Tridge summary
Butter prices in the EU have soared to record highs due to fears of a supply shortage amid stable and growing demand. Contributing factors include changing consumption habits, reduced butter production, climate changes affecting dairy farming, an outbreak of the bluetongue virus in cattle, and EU policies reducing livestock numbers. Additionally, rising energy and fertilizer costs, decreased fat content in raw milk, and high interest rates from the European Central Bank are also driving up prices.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
The EU faces a record price increase for one product Butter in the EU has risen to a record due to fears of a shortage "This (the rise in butter prices - ed.) is primarily due to fears of a supply shortage against the backdrop of a stable and even steadily growing demand for this product. Europe is one of the largest regions for butter consumption," says Anton Trenin, an expert at the ACRA corporate ratings group. One of the reasons for the high demand is changing consumption habits: producers are abandoning palm oil and returning to using butter - and now it is "in demand more than ever," explains Elena Maslova, associate professor at the Higher School of Economics and MGIMO. At the same time, there is less butter in the European Union: according to the local statistical service, butter production in the first half of 2024 decreased by 2% year-on-year. "The dairy price index calculated by the FAO (Food and Agriculture Organization of the United Nations - ed.) in August exceeded ...
Source: Oilworld
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