, Columnist
Butter’s 47% Price Surge Has a Novel Explanation
The world is on fire right now, so we’ll take whatever comfort we can get.
The price of butter has surged 47%.
Photographer: Johannes Eisele/AFP/Getty Images
The world is losing its mind about butter.
In New Zealand, which accounts for nearly half of the world’s butter exports, prices rose 46.5% in the year through June, to NZ$8.60 ($5.10) for a 500-gram (1.1-pound) block. This has assumed the scale of a national crisis.