The fipronil egg scandal has led to a shortage in egg products for processing across the EU. The year on year price of shell eggs for processing has risen by 83.6% to £972.1/tonne, while egg white liquid and egg yolk powder have both also seen significant price increases.
High consumer demand for butter instead of margarine and tight milk fat supplies has pushed EU butter past the £6,000/tonne mark. Buying has been particularly competitive on the spot market, as sellers have been unwilling to lock into long-term contracts over expectations prices may rise even further towards Christmas.
High milk product prices and tight milk fat supplies have also driven UK milk prices higher since the spring flush in April. Despite milk production showing some signs of increasing on last year’s values, supplies are seasonally declining, with deliveries falling 7% month on month in June.