Surge in butter price points to looming supply shortage
The price of butter rocketed by 14.1% in June, according to the Food & Agriculture Organization of the United Nations (FAO). Cheese and skim milk power prices also rose by significant amount.
The spike has been attributed by the FAO to limited export availability of dairy products in all major producing countries.
In an interview with the BBC, dairy group Arla believes the UK could face a butter and cream shortage this Christmas.