Last week the EU Commission raised export subsidies for cheese to all markets (except the US) by 15%.

"All in all we’ll not gain much from the move because the higher subsidies have already been offset by falling prices," said Finn S. Hansen, Divisional Director, the Overseas Division. "Hopefully, however, the increase will prevent further price falls.

Subsidies for dairy products exported from the EU are determined by the EU Commission on the basis of prevailing world market prices.
As current market conditions are characterised by strong competition and low prices, the increase for cheese has been expected for some time. An expected increase in subsidies for butter, where competition is even harder than in cheese markets, however, did not materialise.