INSUBCONTINENT EXCLUSIVE:
butter no parsnips, and in reality the economy is overheating and surging inflation is distorting certain prices, including those charged
that the price of a pack of Brest-Litovsk high-grade butter in Moscow was up 34% in the year to date to 239.96 rubles ($2.47) amid growing
difficulties with climbing consumer price inflation."The Armageddon with butter is escalating; we wouldn't be surprised if butter repeats
last year's situation with eggs," economists on Russia's popular MMI Telegram channel warned.The 2023 spike in egg prices alarmed consumers
Popov, an anxious shopper, who said: "Every morning, we have to eat butter for breakfast
We buy milk, cheese, sausages, eggs and bread
It is not clear why prices are going up."Government officials met last week with Russian dairy producers and struck an agreement on tracking
However, since the full-scale Russian invasion of Ukraine began in February 2022, many traditional sources of butter, including New Zealand
and Latin America, have frozen butter shipments in moves designed to punish Russia or made necessary by new obstacles to payments and
country Russia is turning to as it struggles to maintain its butter stocks.Another difficulty where butter is concerned for Russia is that
the reworking of supply chains has coincided with the overheating war economy that has triggered a rise in cheese and ice cream making
supermarkets, with some retailers responding by placing individual blocks of butter inside plastic security containers to put off
shoplifters.This article was first published by bne IntelliNews.
