Ukraine's butter market no longer dependent on imports - analysts

MOSCOW. March 19 (Interfax) - The period of the Ukrainian market's dependence on butter imports has ended, as butter imported from Europe no longer "fits into" the Ukrainian market in terms of price, Ukrainian media said, citing the Infagro industry news agency.

"Imported butter is too expensive. As supply grew, the price of domestic butter declined noticeably. Ukrainian products' entry to the European market in the 2024 season, if the prices remain high there, is not ruled out either. Ukrainian producers are now looking for more advantageous external markets for their exports.

Polish butter accounted for 79% of all butter imports to Ukraine in February, experts said. Butter prices in Poland were much higher than in Western Europe in late 2023, prompting Ukrainian importers to practically stop buying it.

According to Infagro, the top three countries to which Ukraine is currently exporting its butter are Moldova (48% of all Ukrainian butter exports), Azerbaijan (26%) and Israel (15%).