Thanks to a new diet fad, butter has been flying off the shelves in Norway. According to Reuters, butter sales jumped 20% in October and 30% in November. Further, butter production has been slashed dramatically due to a wet summer which saw a decline in animal feed quality and thus a shot fall off 25 million liters of milk.
…limited supplies and the shortage has led some pundits to suggest the world’s eighth-largest oil exporter offer some of its plentiful fuel supply in exchange for butter.
Butter is currently trading at 4 to 5 times its normal price going into the christmas season. While Norway is surrounded by many top dairy producing countries such as Denmark, the fact that its the only Nordic nation not to join the EU means that importing butter is even more expensive.
Norwegians are not afraid of natural fats, they love their butter and cream…
Our hearts and bellies go out to you, Norway. Stay tuned for more updates on the Norwegian butter crisis.
Thanks to Reuters for this one.