Bloomberg: Europeans are buying up cheap American cheese due to lack of milk in the region

Europe, known for gouda, brie and mozzarella, is facing a milk shortage. As a result, residents began to buy more cheap American cheese. Bloomberg writes about it. Mary Keo Ledman, global dairy strategist at Rabobank, warns that lower U.S. cheese prices could spur the region into buying more of it. Production of milk and cheese has become more expensive almost all over the world, especially in Europe. First, the drought, and then the situation in Ukraine, led to an increase in the price of corn, which means an increase in the price of animal feed. The cost of labor, energy, and equipment also rose, reducing milk supplies. Farmers in Europe are particularly reluctant to expand production as they worry about tightening environmental regulations. Europe imported 306 metric tons of cheese from the US in February, more than three times the monthly average for the past five years, according to the US Census Bureau. For example, the Netherlands has become a major buyer. At the same time, ...