Reduction in levels of EU dairy product put into storage and intervention
The amount of EU dairy product being put into private storage aid and intervention reduced last week, figures from the Milk Market Observatory (MMO) show.
The total amount of skimmed milk powder (SMP) offered into intervention last week by the EU-28 was 926t, the smallest amount offered since July.
The amount of butter offered into private storage aid (PSA) was 1,130t, the smallest amount offered since March.
Looking to SMP offered to PSA, it has also reduced, with just 655t offered last week.
Ireland continues to put skimmed milk powder (SMP) into intervention, with 262t being offered last week, according to the latest figures from the MMO.
Ireland now has just under 2,000t of SMP in intervention, with the total so far being offered standing at 1,895t.
Earlier 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.
Over 20,000t of skimmed milk powder has now been offered to public intervention, the MMO figures show.
A fortnight ago, France became the ninth country to offer skimmed milk powder to public intervention joining Ireland, Belgium, Denmark, Latvia, Lituania, Finland, UK and Poland.
Ireland also continues to offer butter in private storage, with 26,828t now offered into the measure.
There was a smaller take-up by countries last week in intervention and private storage.
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.