Cheese prices have recently picked up somewhat, but pushing to higher levels is not possible. Inventories may be low, but this is offset by tepid demand. Looking back at 2023, Dutch cheese exports showed a slight decline, according to Eurostat figures.
This also broadly reflects the state of affairs on the cheese market, because it is not very exciting at the moment. In February, the prices of Gouda foil cheese increased slightly, bringing the price back to 4. Compared to other cheeses, Gouda remains relatively expensive.
The revival was more a response to the sharply higher butter price than the market gaining ground on its own. In addition to Gouda, Edam, mozzarella and Cheddar also rose. Insiders describe the market as quiet, with tight supplies and tepid demand balancing each other. Calm market sentiment is also expected in the coming weeks.
The Netherlands sells slightly less cheese outside Europe
European cheese exports to third countries increased by 2023% in 3,5, but the Netherlands actually saw sales outside the EU decline. In terms of underlying value, Dutch exports remained just below €1 billion, Eurostat shows.
European cheese production increased by 1,4% last year to 9,6 million tons. Dutch cheese production increased by 0,7% to 948.700 tons. Despite slightly higher production, sales outside the EU fell by 0,5% to 193.076 tonnes. The underlying export value fell by just under 5% to €988 million.
In 2022, Dutch cheese exports outside the European Union exceeded the billion mark for the first time, but that was a year with extremely high prices. About 20% of cheese production is sold on the world market. The United Kingdom, the United States, Japan and Mexico are major customers.