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Butter has risen to record prices in Europe, which is bad news for bakers and confectioners who are preparing for the Christmas holidays and are already faced with high costs for chocolate and sugar. This was reported by Reuters, Day.Az reports with reference to Lenta.ru.
Analysts attributed this to high demand for oil and limited supplies. Dairy processors’ desire to use more milk to produce more profitable products, such as cheese, also played a role.
It is noted that by September 29, European oil was trading on world markets at a record price of $8,706 per ton. This is 83 percent higher than last year.
Paul Boivin, director of the French federation of bakers and pastry chefs FEB, said major food companies had replenished most of their butter reserves before starting to produce Christmas cakes and ice cream. But for small producers the consequences will be significant, since price increases are inevitable.