c-croissant-RTR1I6JS-Sebastian Derungs

The skyrocketing price of butter in France could bring a croissant apocalypse

€4,630

The wholesale price of butter in France almost doubled from about €2,670 ($2,980) per tonne in May 2016 to about €4,630 ($5,170) in May 2017.

Published   |  Photo by Reuters/Sebastian Derungs
c-croissant-RTR1I6JS-Sebastian Derungs
€4,630

Wholesale price of a tonne of butter in France

c-croissant-RTR1I6JS-Sebastian Derungs
€4,630

Demand for milk from Asian countries is growing, making the product more scarce and expensive in Europe.

c-croissant-RTR1I6JS-Sebastian Derungs
€4,630

Also, manufacturers sometimes prioritize cheese and cream over butter during production, further increasing scarcity.

c-cheese-RTX14EHE-Denis Balibouse

Reuters/Denis Balibouse

c-croissant-RTR1I6JS-Sebastian Derungs
€4,630

Butter represents a quarter of the ingredients used to make croissants, and the spike in price is worrying the owners of France’s 30,000 bakeries.

c-croissant-RTR1I6JS-Sebastian Derungs
€4,630

The industry group that represents those bakeries says that consumers could see prices increase sharply, and that a butter shortage could even stop production.

c-croissant-RTR1I6JS-Sebastian Derungs
€4,630

The pastry industry in the country generates a yearly revenue of €8.5 billion ($9.5 billion).

c-frozen-RTX6P5J-Michael Buholzer

Reuters/Michael Buholzer

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