Who would of thought the USA will be the world's largest cheese exporter? That dream may become a reality. Reading an article written by Bloomberg news, (http://www.bloomberg.com/news/2011-07-14/pizza-demand-in-asia-boosts-u-s-cheese-exports-kraft-s-costs.html) Asia has become one of the biggest importers of cheese, mainly Cheddar and Mozzarella. Due to this prices have risen. "Cheddar cheese at American supermarkets climbed to $5.443 a pound in June, the highest since at least 1984, data from the U.S. Department of Agriculture show. Futures linked to class III milk, used to make cheese, reached $21.19 per 100 pounds today on the Chicago Mercantile Exchange, the highest since July 2007." Pizza costs will rise worldwide.
The question I ask you is how are these discount pizzas for profits if prices keep rising? Are they loss leaders?
Interesting, I didn't know that the US was the world's largest cheese exporter. Good to know.
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