Costlier croissants ahead due to high butter prices

The cost of going to the bakery in France is set to go up as a milk shortage forces up the price of butter.
Managing director of the Baker's Federation (FEB), Matthieu Labbé, said that price rises were imminent.
'The price of an eclair at a cafe will not double. But certain artisans are suggesting something in the region of 10 centimes per croissant.
'Pastries and baked goods are on the whole affected. But butter, which makes up 25% of a croissant, is an essential ingredient. Each company will undertake its own strategy,' he told journalists.
The price of butter has doubled in only a year, going from three to 5.37 euros a kilo. 'These prices are at a completely new level. The price of butter has never been so volatile,' the FEB said in a release at the start of June.
Also, there are fears that such a spike in prices could lead to shortages.
'The problem will soon be finding butter. We would like to avoid production having to stop,' Labbé said.
A milk shortage which has been ongoing since May 2016 is behind the crisis. After one period of overproduction, the industry has had to deal with stronger demand for milk in Asian countries, particularly in China.
French dairy producers, who have been demanding more money due to the rise in butter prices, have complained that the price of milk has gone up everywhere else except in France.
'Today, this shortage is lessening a bit, but milk is mainly used for cheese or cream, not for butter,' FEB spokesperson Armelle Favre said.
To keep the crisis in check, the FEB is asking dairy industries to produce more butter. But with jobs and the very survival of businesses at stake, the scale of the price increase is such that the FEB is also asking retailers and the restaurant industry to 'pass on their prices' to consumers.
'We would like a fair distribution, but at the moment it's complicated with them,' Labbé added.