Arguably one of the best parts about the holidays is all the good food, especially desserts. After all, could you imagine a Thanksgiving without pumpkin pie?
Sadly, an impending butter shortage could disrupt a lot of cooking. Now, many bakers are nervous.
Many butter brands have recently raised their prices. According to the latest consumer price index from the U.S. Bureau of Labor Statistics, margarine and butter prices rose 32% in September versus 12 months earlier.
In other words, butter is currently the most expensive it's been since 2017, according to the Wall Street Journal.
Some bakers have even complained that their favorite brand has quadrupled in price.
"I used to be able to buy butter for $1.29 to $.99 a pound and now I think the cheapest was $4.49 a pound," Amy Smith, who owns Cakesmith Baking Company in Rogers, Minnesota, told CBS News.
The price increase isn't the only problem. Some bakers say supply shortages are even more prevalent.
"The butter we usually use is either not available or not available in the quantities we need it," Krysta E. Young, owner of Sassie Cakes in Fort Wayne, Indiana, told FOX News. "This has been a major challenge for us. We have been forced to adjust recipes, change some recipes all together and in some cases, remove items from our menu."
"I'm worried there might be a time when I'm stuck and unable to purchase what I need which will cause me to have to turn down business because of this," Young added.
The situation has taken such a turn that the country's supply of butter is at its lowest levels since 2017, according to Food and Wine Magazine.
Everything from costs for labor and staffing shortages to challenges at the farm level such as the cost of feed and distribution, are contributing to recent price hikes and lower inventories -- something the industry doesn't expect to change any time soon.
"All the costs that go into producing a stick of butter, all those costs have risen," Matt Herrick, spokesman for the International Dairy Foods Association, told CNBC.
As demand continues to outpace supply, some stores may temporarily run out of butter. Still, industry experts say there's no need to panic -- at least not right now.
"I don't anticipate any widespread shortage," Heather Anfang, Senior VP of U.S. Dairy Foods for Land O' Lakes, told CBS, adding that "inventory is down compared to last year because of all the disruption."
If you have an important holiday meal coming up, the best thing to do is plan ahead, buy early and make sure you have butter and other ingredients on hand instead of running out to find them at the last minute.
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