April 28, 2019

THE NORDIC NOW:

ICELANDIC CULTURE (LELSIE PATTON, 4/27/10, Bloomberg NEWS)

It's high in protein, low in sugar, and just right for the struggling American dairy industry.

It's Icelandic yogurt, also known as Skyr, and as the meteoric popularity of the Greek product fizzles, farmers are hoping the new variety will help lift them out of years of lackluster demand. A big reason dairy producers love it: Recipes for one pound of Icelandic yogurt call for four pounds of milk -- four times the amount needed to make traditional yogurt.

U.S. dairy farms could use some good news. For more than four years, retail milk prices have been disappointing, and farmers are reacting by slaughtering more cows than they can replace. In July, a gallon of whole milk cost $2.84, the lowest price since at least 2007, according to the U.S. Department of Agriculture. In March, the price of a gallon stayed below $3 for a 15th straight month.

It's a different story for Icelandic yogurt. While U.S. yogurt sales dropped 3.4% in the 12 months ended in February, the Icelandic style jumped 24% to $173.9 million, Nielsen data show.

Posted by at April 28, 2019 7:07 AM

  

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