The highest bid received this time was €1,668.90/t. This was lower than the most recent at €1,670/t.This further strengthens the claims that
intervention for SMP will reopen.
The highest bid received this time was €1,668.90/t. This was lower than the most recent at €1,670/t.
This further strengthens the claims that intervention for SMP will reopen.
Over the course of the six tenders, only 40t of product has been sold and that was at the first tender. For that sale, bids of €2,150/t and €2,200/t were accepted.
The intervention season for 2017 has a capacity of 109,000t from the EU member states at the intervention price of €1,698/t.
Under new legislation, the tender system will now move from every two weeks to once a month.
Commissioner for Agriculture Phil Hogan once again directly stated that he will not be releasing current stocks until the price is right and will not cause market disturbance.
As more time passes, there is a growing threat that SMP will become feed product, which is usually sold at €100/t to €150/t lower than SMP as a food product.
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SMP prices slide as tender bids rejected again
Milk powder prices tumble at this week’s GDT
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