US to buy cheese to help milk prices and feed the poor
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The US government is to take 5m kilogrammes of cheese out of the market to help bump up farmgate price and provide nutrition for poor citizens.
A $20m (£15.1m) investment will tackle the monumental $1.2bn (£0.91bn) cheese surplus in the US – the biggest for 30 years.
See also: US set to relax rules on UK lamb imports
The surplus, which has led to a 35% drop in producer revenues, built up following massive overproduction, which was never met by consumer demand.
The cheese will be donated to food banks and low-income families through nutritional programmes.
The United States Department for Agriculture (USDA) predicts dairy prices will rise again.
Increased global production have added to stagnating markets in the US.
But just how much cheese is nearly 5m kilogrammes?