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South Korean Cheese Binge

South Korean Cheese Binge
South Korea's cheese binge is driving milk prices in America to an all-time high.

And that's good news for American dairy farmers who are selling milk at prices up 17 percent in January from the previous year.

But retail prices on American grocery shelves have only gone up a little in the past year. The high wholesale milk prices are mostly due to the uptick in cheese eating by South Korea -- where people are suddenly eating more pizza with lots of cheese than ever before.

Cheese prices are way up mainly due to exports, with Mexico being the number one consumer, South Korea jumping up to number two, and Japan the third-biggest importer of American cheese products.
 
--Rob Archer
 

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