Some 20,033t of skimmed milk powder (SMP) has been sold from European intervention stocks for €1,231/t in the latest tender.
The price has risen slightly from €1,230 and marks a sharp increase from the 2,499t sold in the last tender at the beginning of October.
Industry stakeholders commented that it was “very encouraging” given that recent prices had been under pressure.
ADVERTISEMENT
Over 300,000t for SMP was sitting in intervention at the beginning of the year with doubts over the European Commission’s ability to sell it on without disrupting the market.
However, Commissioner for Agriculture Phil Hogan doubled the number of tenders per month and to date some 170,000t has been sold.
Future SMP sales
It was decided this week that the European Commission won’t buy-in SMP for 2019, by the EU agriculture ministers.
However, the current rules will remain in place whereby EU experts will be allowed to open tenders for intervention SMP on a case-by-case basis.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
Some 20,033t of skimmed milk powder (SMP) has been sold from European intervention stocks for €1,231/t in the latest tender.
The price has risen slightly from €1,230 and marks a sharp increase from the 2,499t sold in the last tender at the beginning of October.
Industry stakeholders commented that it was “very encouraging” given that recent prices had been under pressure.
Over 300,000t for SMP was sitting in intervention at the beginning of the year with doubts over the European Commission’s ability to sell it on without disrupting the market.
However, Commissioner for Agriculture Phil Hogan doubled the number of tenders per month and to date some 170,000t has been sold.
Future SMP sales
It was decided this week that the European Commission won’t buy-in SMP for 2019, by the EU agriculture ministers.
However, the current rules will remain in place whereby EU experts will be allowed to open tenders for intervention SMP on a case-by-case basis.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS