A sharp increase in demand for butter has led to the fact that the wholesale price of the product in Europe in early summer increased by almost two times, and retail — 20%. About it reports CNN Money, citing data from Euromonitor.
Federation of entrepreneurs of Boulangerie that unites French bakery, called the situation a crisis and warned of a coming sharp rise in price of bakery products.
In a statement the group noted that although the price of butter was unstable, but never reached those levels earlier. The industry fears that by the end of the year the market will experience a shortage of butter.
The growth of prices for this product experts explain several factors. In particular, this increased consumption, which explains the high demand for oil from a number of countries, including China. In addition, demand has increased and once was challenged by the relationship between the consumption of dairy products and cardiovascular diseases.
According to the European Commission in may 2017 oil production in Europe fell by 5 per cent in annual terms, and reserves, according to the Breast of the Observatory of the European Commission, decreased by 98 percent per year.
Director General of the Danish-Swedish dairy giant Arla, Peder Tuborg expressed concerns about the fact that Christmas in Europe could be shortage of milk and cream.
Global demand for oil is recovering after years of recession, when consumers preferred to its substitutes. According to an analyst at Euromonitor food products Raphael Moreau, consumers are increasingly choosing more natural and less processed products, including butter.
The average European inhabitant in 2015, consumed 8.4 pound of butter, whereas in 2010, 7.9 per pound. For the average American in 2015 accounted for 5.6 pounds, while in 2010, only 4.9 lbs.
According to forecasts of USDA, the import of milk in China this year will increase by 38 percent and oil consumption in the world — 3 percent.
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