Why milk is cheaper than water in Europe

Since Russia has banned imports, Chinese demand is weakening and limits on production have been removed, Europe is drowning in milk.

It's even cheaper than bottled water. A liter bottle in the United Kingdom currently costs $1.50, compared to $1 for milk. Water is more expensive than milk in several other European countries, as well, according to CNNMoney.

Dairy farmers are being forced to sell their milk for less than it cost to produce. In response, the European Union is providing farmers $555 million in emergency support.

Read more from CNNMoney.