Bengaluru Cooperative Milk Union has raised the retail prices of Nandini butter across pack sizes. The increase is effective from July 24, 2026, and is noted to be steeper than the ghee price hike, indicating upward pressure on butter market costs.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Butter | Germany | FOB | USD 3,440.61/MT | June 2026 |
| Butter | India | EXW | USD 373.52/MT | June 2026 |
| Butter | USA | FOB | USD 3,626.60/MT | June 2026 |
| Butter | Brazil | FOB | USD 3,220.60/MT | June 2026 |
| Butter | New Zealand | FOB | USD 6,495.09/MT | June 2026 |
| Butter | Germany | FOB | USD 4,516.00/MT | May 2026 |
| Butter | India | EXW | USD 368.00/MT | May 2026 |
| Butter | USA | FOB | USD 3,573.00/MT | May 2026 |
| Butter | Brazil | FOB | USD 3,173.00/MT | May 2026 |
| Butter | New Zealand | FOB | USD 6,399.10/MT | May 2026 |
Stay updated with the latest butter prices, historical data, and tailored regional analysis
Asia
Butter prices in India declined slightly to ~USD 375.88/MT and ~USD 374.00/MT during Q2’26. Asian markets remained dependent on imported butter due to limited domestic milk-fat availability in several consuming countries. Demand from bakeries, cafés, foodservice and processed-food manufacturers supported imports, while buyers remained cautious due to changing dairy-fat costs. In India, butter supply was influenced by milk-fat allocation between butter, ghee and other dairy products, with seasonal changes in milk procurement affecting availability. New Zealand remained an important supply source, with improved seasonal milk production supporting export availability during the quarter.
Europe
Butter prices in Germany declined to ~USD 4,911.00/MT in April and ~USD 3,441.00/MT in June. European markets faced tighter supply conditions early in Q2 due to slower milk collection growth and limited cream availability. Dairy processors balanced production between butter, cheese and other higher-value products based on market returns. Supply conditions improved later as seasonal milk output increased, allowing inventories to rebuild and reducing price pressure. Demand from bakery, confectionery and processed-food manufacturers remained supportive, but improved availability and cautious buying pushed prices lower. Moderate industrial activity also limited stronger food-processing demand growth.
North America
Butter prices in the United States declined to ~USD 3,821.00/MT in April and ~USD 3,627.00/MT in June, showing a ~5.1% decrease. The market benefited from strong milk availability and stable dairy processing capacity. Higher milk supply supported butter production, while demand from foodservice, bakery and packaged-food manufacturers absorbed part of the additional supply. The balance between production and commercial demand prevented excessive inventory buildup. Investments in dairy processing capacity also improved supply-chain flexibility and supported long-term availability.
Analyst Insight
According to Procurement Resource, butter prices are expected to remain influenced by milk production trends, cream availability and export demand, with improved seasonal supply likely limiting significant price increases.
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Asia
Butter prices in Asia remained firm in Q1’26, supported by strong import demand and limited regional production. At the start of the quarter, North Asia accounted for 64% of butter purchases at a major global auction, showing strong buying interest and forward coverage for upcoming months. China continued to rely on imports due to limited domestic butter production relative to consumption, while India remained largely self-sufficient but influenced regional sentiment through milk fat availability. Stable demand from bakery and foodservice sectors supported consumption, while supply tightness from Oceania exports maintained firm market conditions.
Europe
Butter prices in Europe showed mixed trends in Q1’26 as strong milk production increased cream availability and pressured the market. Ample milk volumes during the spring flush raised butter output, while softer domestic demand limited upward movement. Butter price analysis also indicated a decline in Western Europe butter values during the period, reflecting oversupply conditions and weaker farmgate milk prices. Export competitiveness remained moderate, with supply-side pressure outweighing demand support from foodservice and retail segments. However, by the end of the quarter, the butter prices recovered as the inventories declined.
North America
Butter prices in North America followed a steady to firm trend in Q1’26, supported by stable domestic demand and controlled supply conditions. Strong butter stocks increased availability, while steady consumption from retail, processed food, and bakery sectors maintained market balance. Domestic production limited exposure to global disruptions, though international demand and trade flows influenced overall sentiment.
Butter is a well-known dairy product that is made from the fat and protein components of milk or cream. It appears as a semi-solid emulsion at room temperature, comprised of almost 80% butterfat. It is utilised as a spread (at room temperature) and can also be used as a condiment in melted form. It is utilised as an ingredient in areas like baking, sauce making, pan frying, and other cooking procedures.
Baking, Spread, Sauces, Condiment, Cooking
Fonterra Co-operative Group, Arla Foods Amba, Lactalis Group, Unilever PLC, Kerrygold USA
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Butter is generally derived by churning milk or cream to separate fats from the liquid (buttermilk), which finally produces Butter in a semi-solid state. Commercially, buttermaking involves steps like bacterial acidifying and heat treatment, and the use of advanced machinery like mechanical churn.
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Butter is industrially manufactured by churning whole milk into cream first, which is then further pasteurized to form butter.
This report provides the cost structure of cocoa butter production from the grinding and pressing methods. When the nibs extracted from cocoa beans are grounded, it produces chocolate liquor.
This report provides the cost structure of white chocolate production from cocoa butter. Cocoa butter is separated from the whole cocoa mass to make a press cake of cocoa beans.
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