Following weeks of price stagnation, EU yellow cheese prices moved up in the week ending 18th May. The Mintec Benchmark Prices (MBP) for Gouda EXW Europe [Mintec Code: J114] was last assessed on 18th May at €3,350/mt, up 2% on the week. Meanwhile, the MBP for Edam EXW Europe [Mintec Code: J113] stood at €3,375/mt, down 5.5% month-on-month.
Fundamentals remained unchanged; the milk flush is in full swing, and cheese output is expected to surpass last year’s production level. According to some market participants, competitive EU cheese prices compared to international counterparts have pushed international sales up and have increased domestic prices. It seems that stocks are not burdensome for cheese makers and reportedly some cheese types such as edam are more difficult to source. According to a source, “prices should stabilise and move up slightly, producers raised prices as they do not find difficulties in selling at these price levels.”
Likewise, the EU mozzarella market sentiment turned bullish. According to some market sources, there was an uptick in buying activity in anticipation of the summer season. The MBP for Mozzarella EXW EU [Mintec Code: ED27] was last assessed on 18th May at €3,200/mt, up €200/mt week-on-week.