Luc De Boey of the umbrella organisation for bakers labels the situation as exceptional: "Butter prices go up and down, but the present situation is becoming exceptional. On the one hand, supplies in Europe are down, while on the other hand demand is increasing in countries like Japan, Korea and China. Butter is becoming a kind of golden product."
In January, one kilo of butter cost 4.36 euros. Now, this is almost 7 euros, a price hike of 50 percent in just over half a year. "If you translate this into the cost to produce a croissant, for example, this is 5 eurocent. For a cake, we are talking about 20 cent.
If you like some croissants and/or pastries with your coffee at the Sunday breakfast, be prepared. Butter prices are not expected to drop, on the contrary. And there is more. "Vanilla prices are also exceptionally high, and labour costs are expected to rise due to a new general accord for workers in the bakery sector."