The high price on butter in Latvia will not remain so high for long, said Farmers Saeima Vice-Chairperson Maira Dzelzkaleja-Burmistre.
“We will not have to deal with such a high price for long,” she said.
She adds that the price should stabilize in the next couple of months. It is likely, however, that it will not return to the low level of the past.
“I believe there will be some middle ground,” said the deputy head of Farmers Saeima.
Dzelzkaleja-Burmistre also adds that global milk prices have been very low in the past two years. Now, on the other hand, demand often exceeds supply.
“We have to wait for the market to calm down and for us to take an appropriate position,” she said.
Also she said that livestock farmers could not adapt to consumers’ rapidly changing demand so quickly.
“If people truly start consuming more dairy fats, it will be necessary to wait for livestock farmers to add changes. It is not a fast process,” said the vice-chairperson.
According to data from Latvian Traders Association, the average butter price in March 2016 was 7.9 EUR/kg. The price was 8.55 EUR/kg in March 2017. The price in August reached 13.1 EUR/kg. (BNN/Business World Magazine)
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