France in the midst of its own butter crisis

France in the midst of its own butter crisis
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Shoppers in France, which has the world's highest per capita use, have been confronted with the sight of empty shelves in the butter aisle.

Fortune reports the phenomenon has been nicknamed #beurregate (#buttergate), as consumers air their frustrations on social media.

 

The rising price of butter is to blame, with French supermarkets struggling to maintain supply due to price restrictions.

The wholesale price of butter has risen globally, after a drop in dairy production in most butter-producing nations. 

Prices have reached NZ$8414.74 per ton, forcing supermarkets to pay more for butter.

In most countries, supermarkets can pass the price rise onto consumers, but in France, prices are only negotiated once a year.

Instead, French butter producers have been sending their product abroad to overseas markets that are able to pay the high prices.

In France, supermarkets are now sporadically running out of butter, as prices rise and shoppers anxiously hoard for fear they could run out.

Thankfully, the end of the crisis may be near, with the price of butter expected to fall as production rises.

Newshub.