American dairy giant Land O’Lakes Inc. is selling record amounts of butter as consumers cook more at home, helping boost profits even as the pandemic upends global commodity markets.
The Minnesota-based cooperative expects butter sales to reach 275 million to 300 million pounds in 2020, an increase of more than 20% from a normal year, said Chief Executive Officer Beth Ford. That’s more than offset a decline in food services as lockdowns from New York to Los Angeles slashed demand from restaurants, which usually account for 15% to 20% of the company’s business.
To read the rest of the story, please go to: BloombergQuint
