Since the inflationary crisis, butter has seen its price rise sharply on the shelves. Because of this constantly rising price, other products could see their prices rise.
Butter is one of the products that saw its price soar during the inflationary crisis. According to data from NielsenIQ, its price increased by 1.4% over the last twelve months, reported The ParisianSaturday January 4. However, several major retail bosses predicted, in January 2024, price reductions in the department, which was for example the case for its plant-based alternative, margarine, with a drop of 5%.
Since October 2021, the price of butter has increased by 34.1%. A jump well above the average for food products, located around 20%. Direct consequence of this sharp increase: we have never sold so little butter in ten years. “The French are less inclined towards butter. Among the categories of households whose behavior we monitor, there are those consumers who follow a diet, pay attention to fat and sugar. Their proportion has been increasing for several years”explained Cyrielle Bienvenu, consultant for Nielsen IQ.
The price of a ton of butter at its highest
The fact that we cook less and less is also a reason why the sale of butter is declining. Today, one in five French people spend less than an hour per week preparing food. The butter used for cooking therefore declines. But the increase in prices offsets the drop in sales volume. “We have a record turnover, at 1.8 billion euros”indicated the expert.
A worrying factor for household purchasing power: the ton of industrial butter has never been so high. According to data from the National Interprofessional Center for the Dairy Economy (CNIEL), it currently costs 7,850 euros. This has no impact on consumers but that could change because industrial butter is what bakers or cookie makers buy. There could therefore soon be an increase in the prices of biscuits and prices in bakeries.
published on January 5 at 10:18 a.m., Lilian Moy, 6Medias
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