Butter (smör in Swedish) is undergoing an explosive price increase just in time for the holiday baking season.

Analysts discovered a recent 25 percent price increase from popular Swedish store chain ICA, which in turn affected prices from competitors Hemköp, Coop and Willy’s.

ADVERTISEMENT
Volvo Overseas - the ultimate experience

Using a new analytics tool, industry experts have been able to track a 300 percent increase in butter prices over the last 1.5 years. The increase stems from a shortage of milk fat which in turn forced up the price for butter on the commodities exchange in the Netherlands with 50% since May, 2017. The shortage is strongly felt in Sweden, where a high-fat, low-carb diet is increasing the demand for butter and all dairy products in general.