Milk crisis can emerge in Europe

A serious dairy crisis is lurking on Europe, at least one of the leaders of one of the largest dairy companies predicts. For Christmas, milk and butter may run out on the continent – portfolio.hu wrote, after CNBC.

Peder Tuborgh, head of the Danish Arla Foods, says the milk stock of the world is very low. Due to the low dairy prices of last year, the producers stopped production and thus increased global milk prices by 28 percent over one year. In Europe, the situation is so bad that there may be a shortage of certain dairy products such as butter for Christmas. (portfolio.hu)