Ireland continues to offer dairy product into intervention
Last week, Ireland offered more skimmed milk powder (SMP) into intervention, bringing the total amount offered to 1,967t, figures from the Milk Market Observatory (MMO) show.
There has been 22,003t of SMP offered to intervention by the nine countries that have stock in the measure.
In September, Ireland offered 261t of SMP to intervention, for the first time since 2009 and became the eighth country to put product into the scheme.
At the beginning of October there was a reduction in the amount of SMP offered into intervention, with only 926t offered in one week, the smallest amount since July.
Last week, a total of 1,342t was offered by the nine countries.
The amount of SMP offered into private storage aid (PSA) last week hit over 50,000t with 50,393t offered.
Ireland last offered SMP in early September and the total amount of SMP from Ireland offered to the measure now stands at 7,258t.
Some 27,393t of Irish butter has been offered to PSA, Ireland started offering butter to the measure in May this year.
There is 152,317t of butter in PSA with 10 countries offering butter to the measure.
The current intervention prices include €221.75/100kg for butter and €169.8/100kg for SMP these prices equate to 21c/L in terms of Irish milk prices.
Under the intervention scheme, operators in the dairy sector can sell butter and SMP to public authorities at the above mentioned fixed prices up to a limit of 50,000t for butter and 109,000t for SMP from March to September each year.
Incase those ceilings are met, purchases continue through a tender system.
Member State authorities notify to the Commission on a weekly basis the quantities for which they have received offers for sale.