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The butter shortage that has gripped France for several weeks is almost over, according to reports.

The number of consumers who were spooked into buying up supplies in supermarkets has dropped, with sales in the past week down 1.1% on the same period in 2016, a new report by data analysts Nielsen reveals.

At the height of the crisis, sales were nearly 50% above normal levels as consumers hoarded butter against the prospect of a continued shortage. The end of the panic-buying accounts for much of the drop in demand.

Meanwhile, butter production has increased, aided by a recovery of the milk supply in France - which rose 3.4% in September after a 2% dip in July. Across Europe, milk supplies are rising.

A price dispute between butter manufacturers and distributors remains, however, with the former accusing the latter of under-valuing their produce. "There is still a valuation gap of 10 to 15% between what we perceive from our retail customers and the price at which our products should be valued," said Dominique Chargé, president of the National Federation of Dairy Cooperatives and the group.