Poland Sells Frozen Butter Reserves

Yes, Poland produces butter, and in 2023 it reached a record production level of 266,000 metric tons.

 

I didn't know this until I read the news that the country is selling up to 1,000 metric tons (1,102 tons) of its frozen butter reserves to bring down surging prices. 

 

The government’s strategic reserves agency announced the butter auction Tuesday, citing significant increases in butter prices worldwide that it blamed on a shortage of milk.

 

In fact, according to the European Commission, butter prices in the EU have jumped some 44% this year as dairy prices surged.  

 

“This emergency action… should contribute to stabilizing butter prices in the market”, the agency said, according to a report by CNN affiliate TVN24, a local commercial news channel. The bidding process started Thursday. 

 

The agency said they would sell the unsalted frozen spread to businesses in 25-kilogram (55-pound) blocks, for the minimum price of 28.38 zlotys ($7) per kilo. That is well below prices at Biedronka, one of Poland’s major supermarkets. The retail chain sell fresh butter for between 39.90-49.95 zlotys ($9.84-$12.32), depending on the brand, according to their website. The final selling price in the auction could, however, be higher than the minimum price. 

 

It’s not unheard of for governments to tap into emergency reserves in order to boost supply and bring down prices. 

 

While such reserves are typically dominated by foreign currency or commodities such as oil and gold, some countries stockpile products deemed important to local diets. 

 

For example, in recent years, amid shortages, China drew down its strategic pork reserves (2019) and Canada had released stores of maple syrup (2021).

 

 

 

 

 

 

 

If you can recall my two posts, i.e. "UK Petition Calls for A New General Election" and "Bankrupt Britain, Christmas Cancelled" published November 27 and December 11 respectively. 

 

I was curious to know how the petition "Call a General Election" fared. And so, I went to the pertinent website  and lo and behold, it has surpassed 3 million! 3,004,608 to be exact! As at December 25, 07:30 AM (UK time).

 

As I've already mentioned, the UK Parliament will debate this petition on January 06, 2025. And if you're interested, you'll be able to watch online on the UK Parliament YouTube channel.