92% increase in one year, the price of a kilo of butter is trading at an unprecedented level. An unprecedented increase which has repercussions for bakers, already weakened two years ago by the surge in energy prices and inflation.
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Almost twelve euros per kilo, the price of butter has reached historic highs. It represents a good quarter of the raw material used to make a croissant, a flagship bakery product. Aurélien Nicot, manager of Fournil Chapellois in Loiret, made the decision not to increase his prices as a result, to the detriment of his margin. Unlike Vincent Cachard of “2 bakers” in Saint-Jean-de-Braye: his croissant has gone from 1.10 euros to 1.20 euros since the start of the school year in September.
Bluetongue responsible for all ills?
The bluetongue epidemic (BFT) is believed to be the cause of the extraordinary inflation in the price of butter. It affects flocks of sheep and cattle in France and Europe. It would result in a reduction in milk production, effectively affecting the production of butter.
The explanation leaves the president of the Centre-Val de Loire bakers’ employers’ chamber rather skeptical. He puts forward another hypothesis, that of speculation in the agri-food industry: “The increase is recurring every year at this time. It comes before the end of year celebrations then in January for the galette des rois” explains Thierry Villard.
A hard blow for the profession
Milk, eggs, energy, bakers’ costs have been subject to inflation in raw materials for two years already. “The whole profession is suffering,” says Thierry Villard.
Cream and chocolate are also experiencing a very significant increase in prices, so all the ingredients are in place to cause the cost price of Christmas logs and pastries to explode at the end of the year.
