Bakers Brace for Costly Christmas as Butter Prices Surge
Butter prices have rocketed in recent months, trading at record highs across Europe in bad news for bakers and pastry makers as they prepare for Christmas celebrations and already face high chocolate and sugar costs.
Strong demand for butter, tight stocks and dairy processors' preference to use more milk for the most profitable products such as cheese have driven the price surge, analysts say.
European butter was trading on world markets at a record $8,706 per metric ton by Sept. 29, up 83% on year, latest official European...
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