Latvia sees butter 'bubble'

Take note – story published 6 years and 9 months ago

Just like many other countries across the EU, Latvia is experiencing a butter 'bubble' that prompts some people to buy out store stocks of butter and the rest to churn out mixed metaphors and lazy puns. 

"There's [a butter price] bubble and it has appeared thanks to the media," Ingūna Gulbe, head of a body meant to promote agricultural products, told Latvian Radio.

She claimed that there are several Facebook groups where people report butter sightings and prices with the goal of trying to help find the best deal.

While people flock to stores to buy their supply of butter, it's a slippery business as people might buy too much and it would spoil without being eaten. 

Gulbe recalls that there was also a buckwheat boom in Latvia several years ago.

"A similar bubble was seen a few years ago with buckwheat when it suddenly cost three times more. It wasn't that it was consumed thrice as much. I think it stayed on the shelves, got infested by mites and thrown out," she said. 

She said price growth is bound to stop once it reaches a certain level. "The ones who're ready to buy just because they've heard something, they will buy a fridgeful but stop at that. [That's how] the big bubble and the buying will cease," she said.

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