You’d butter believe it

21 May

Europe’s butter mountain could soon be melting away.

This lunchtime, the European Commission announced that it was to put out to tender the contract to sell the mounds of butter its been stockpiling.

There was a crisis in the dairy market last year and EU officials spent €600m (about £550m) buying up 76,000 tonnes of butter and 257,000 tonnes of skimmed milk powder from Europe’s impoverished farmers. Dairy prices had become so low they were struggling to make ends meet.

But now, apparently, the market is picking up again and prices are rising.

When critics accuse the EU of manipulating the market, this is what they mean.

But dairy farmers will be thankful.

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