Emmental Price Trend and Forecast 2026-2027

Switzerland paid the most for Emmental in Q3 2026: USD 12.00/KG, up 0.8% from USD 11.90/KG in Q2. Prices there reflect a protected origin, long ripening and controlled production. Worldwide, the average rose 1.5% to USD 8.38/KG from USD 8.26/KG, mostly because wholesale buyers placed larger orders and milk costs stayed firm. What about Q4 2026? We expect a global average somewhere in the USD 8.02-8.87/KG range, with milk costs, ripening time and export demand doing most of the work.

Emmental is a hard, cooked, large-holed cheese from the Alpine region, now made in several European countries. It is sold as blocks and wheels for slicing, and as shredded cheese for sandwiches, fondue and baked dishes. This report tracks the wholesale price of block Emmental, quoted per kilogram, in the main producing and importing markets. Prices follow the cost of milk, ripening time, the volumes exported, and demand from food service and retail.

Switzerland, Germany and France make most of the Emmental sold worldwide, and the United States is among the largest import markets. Swiss Emmentaler sales reached about 12,900 tonnes in 2025, a little over 3 percent lower than a year earlier, with exports down by a similar margin, while prices held largely stable. In Germany, wholesale block prices have stayed near EUR 6 per kilogram for some time, close to the farm-gate level for the milk that goes into the cheese.

Emmental Price Forecast for 2026

Prices should hold close to current levels. Stable milk costs and steady export orders point to small gains. Year on year, the global average has moved from USD 8.15/KG to USD 8.38/KG, an increase of 2.8%.

For Q4, the risks are balanced. What could push prices higher? Higher milk prices, strong export orders or a weaker dollar would lift prices. What could pull them lower? Lower milk prices, weak food service demand or cheaper imports would lower prices.

For the Quarter Ending September 2026

Emmental Prices Q3 2026:

• Germany: USD 6.70/KG
• France: USD 6.30/KG
• Switzerland: USD 12.00/KG
• United States: USD 8.50/KG

Emmental Prices in Germany

In Q3 2026, the average price in Germany firmed 1.5% to USD 6.70/KG, compared with USD 6.60/KG in Q2. Prices edged up as wholesale buyers placed larger orders for autumn. Compared with Q3 2025, when Germany averaged USD 6.50/KG, the current price is 3.1% higher. The gap to the four-market average of USD 8.38/KG was 20.0% below for Germany.

Why did the price of Emmental change in Q3 2026 in Germany?

Germany edged higher. Wholesale buyers placed larger orders for autumn. Buyers kept orders close to immediate needs. At USD 6.70/KG, Germany is 3.9% higher than in Q4 2025, when the average was USD 6.45/KG, and the global average is 3.5% higher over the same period.

Emmental Prices in France

France's average gained 1.6% in Q3 2026, to USD 6.30/KG from USD 6.20/KG in Q2. Prices edged up as grated cheese makers bought more block cheese. The current level is 3.3% above the Q3 2025 average of USD 6.10/KG. Against the four-market average of USD 8.38/KG, France stood 24.8% below in the quarter.

Why did the price of Emmental change in Q3 2026 in France?

France edged higher. Grated cheese makers bought more block cheese. Traders checked stock levels before committing to larger volumes. Since Q4 2025 the price in France has gone up 4.1%, from USD 6.05/KG to USD 6.30/KG, while the global average has gone up 3.5%.

Emmental Prices in Switzerland

Prices in Switzerland rose 0.8% in Q3 2026 to USD 12.00/KG, against USD 11.90/KG in Q2. Prices edged up as a managed supply kept prices close to their long-term level. Compared with Q3 2025, when Switzerland averaged USD 11.85/KG, the current price is 1.3% higher. The gap to the four-market average of USD 8.38/KG was 43.2% above for Switzerland.

Why did the price of Emmental change in Q3 2026 in Switzerland?

Switzerland edged higher. A managed supply kept prices close to their long-term level. Offers were reviewed weekly as contract talks went on. Compared with the Q4 2025 average of USD 11.80/KG, the price in Switzerland has changed by +1.7%, against +3.5% for the global average.

Emmental Prices in United States

The United States recorded a 1.8% gain in Q3 2026, with the average rising to USD 8.50/KG from USD 8.35/KG in Q2. Prices edged up as importers paid more to secure European cheese. The current level is 4.3% above the Q3 2025 average of USD 8.15/KG. Against the four-market average of USD 8.38/KG, the United States stood 1.4% above in the quarter.

Why did the price of Emmental change in Q3 2026 in United States?

The United States edged higher. Importers paid more to secure European cheese. Most deals were settled on short notice. At USD 8.50/KG, the United States is 4.9% higher than in Q4 2025, when the average was USD 8.10/KG, and the global average is 3.5% higher over the same period.

For the Quarter Ending June 2026

Emmental Prices Q2 2026:

• Germany: USD 6.60/KG
• France: USD 6.20/KG
• Switzerland: USD 11.90/KG
• United States: USD 8.35/KG

Emmental Prices in Germany

Prices in Germany climbed 1.5% in Q2 2026 to USD 6.60/KG, against USD 6.50/KG in Q1. Prices edged up as retail promotions picked up. Compared with Q2 2025, when Germany averaged USD 6.55/KG, the current price is 0.8% higher. The gap to the four-market average of USD 8.26/KG was 20.1% below for Germany.

Why did the price of Emmental change in Q2 2026 in Germany?

Germany edged higher. Retail promotions picked up. Order sizes stayed modest through the quarter. Q1 had brought a 0.8% gain, and by the end of Q2 the price was 0.8% above the Q2 2025 average of USD 6.55/KG. Q3 then extended the move, taking the price to USD 6.70/KG.

Emmental Prices in France

France recorded a 1.6% gain in Q2 2026, with the average rising to USD 6.20/KG from USD 6.10/KG in Q1. Prices edged up as export orders improved. The current level is 0.8% above the Q2 2025 average of USD 6.15/KG. Against the four-market average of USD 8.26/KG, France stood 24.9% below in the quarter.

Why did the price of Emmental change in Q2 2026 in France?

France edged higher. Export orders improved. Contract talks were mostly settled before the quarter began. After +0.8% in Q1, the quarter closed 0.8% above its year-earlier level of USD 6.15/KG, and in Q3 the move was extended, to USD 6.30/KG.

Emmental Prices in Switzerland

In Q2 2026, the average price in Switzerland gained 0.7% to USD 11.90/KG, compared with USD 11.82/KG in Q1. Prices edged up as retail promotions picked up. A year earlier the average was USD 11.90/KG, so the price is broadly unchanged on the year. The gap to the four-market average of USD 8.26/KG was 44.1% above for Switzerland.

Why did the price of Emmental change in Q2 2026 in Switzerland?

Switzerland edged higher. Retail promotions picked up. Sellers adjusted offers in small steps. Q1 had brought a 0.2% gain, leaving the price level with the Q2 2025 average of USD 11.90/KG. Q3 then extended the move, taking the price to USD 12.00/KG.

Emmental Prices in United States

The United States' average rose 1.8% in Q2 2026, to USD 8.35/KG from USD 8.20/KG in Q1. Prices edged up as export orders improved. The current level is 1.8% above the Q2 2025 average of USD 8.20/KG. Against the four-market average of USD 8.26/KG, the United States stood 1.1% above in the quarter.

Why did the price of Emmental change in Q2 2026 in United States?

The United States edged higher. Export orders improved. Buyers worked through existing stock before placing new orders. Q1 had brought a 1.2% gain, and by the end of Q2 the price was 1.8% above the Q2 2025 average of USD 8.20/KG. Q3 then extended the move, taking the price to USD 8.50/KG.

Quarterly Emmental Price Trends

Emmental prices fell through 2025 and rose in 2026. The global average moved from USD 8.26/KG in Q1 2025 to 8.20 in Q2, 8.15 in Q3, 8.10 in Q4, then 8.15 in Q1 2026, 8.26 in Q2 and 8.38 in Q3, a net gain of roughly 1.5% across the window. Milk costs, ripening time and export demand set the direction.

What was Emmental Price in 2025?

2025 was a year of modest declines for Emmental. Starting near USD 8.26/KG in Q1, the global average finished the year at 8.10 in Q4, a drop of about 1.9%. Milk costs, ripening time and export demand set the direction.

Emmental Prices in Germany in 2025

In Germany, prices moved from about USD 6.60/KG in Q1 2025 to USD 6.45/KG by Q4, down roughly 2.3%. Prices fell in every quarter as milk supplies were ample and wholesale cheese prices eased. Relative to the end of 2025, the price in Germany is 3.9% higher at USD 6.70/KG.

Emmental Prices in France in 2025

In France, prices moved from about USD 6.20/KG in Q1 2025 to USD 6.05/KG by Q4, down roughly 2.4%. Prices fell in every quarter as demand held back while stocks stayed comfortable. Since the 2025 close of USD 6.05/KG, the price in France has moved up 4.1%, reaching USD 6.30/KG in Q3 2026.

Emmental Prices in Switzerland in 2025

In Switzerland, prices moved from about USD 11.95/KG in Q1 2025 to USD 11.80/KG by Q4, down roughly 1.3%. Prices fell in every quarter as milk supplies were ample and wholesale cheese prices eased. Relative to the end of 2025, the price in Switzerland is 1.7% higher at USD 12.00/KG.

Emmental Prices in United States in 2025

In the United States, prices moved from about USD 8.30/KG in Q1 2025 to USD 8.10/KG by Q4, down roughly 2.4%. Prices fell in every quarter as demand held back while stocks stayed comfortable. Since the 2025 close of USD 8.10/KG, the price in the United States has moved up 4.9%, reaching USD 8.50/KG in Q3 2026.

How We Can Help

Expert Market Research: Your Source for Real-Time Emmental Price Intelligence

We follow Emmental prices in the main producing and consuming countries, and trace each move back to milk costs, ripening time, export demand and demand. Our forecasts draw on milk prices, ripening stocks and export demand across all reporting regions, so subscribers see why a price moved and not just that it did. Need pricing data, bespoke market analysis, or procurement advisory? Reach out to our team.