A total of 31,493t of Skimmed Milk Powder (SMP) was sold out of intervention by the European Commission during the month of August, according to official figures today (Friday, August 31).
The product was sold at a minimum price of €1,230/t. In further encouraging news, no stock was bought in over the course of the month.
There was also a rise in the fixed minimum price compared to the July price offered, which was €1,125/t.
Irish milk production down in July
Meanwhile, Irish milk production last month was down 3.1% versus the corresponding month last year, according to the latest figures released by the Central Statistics Office (CSO).
It was estimated that domestic milk intake equalled 848.5 million litres in July 2018, compared to 874.8 million litres in the same month in 2017.
Comparing the July 2018 figures with those for July 2017 shows that total milk sold for human consumption decreased by 2.4% to 43.8 million litres.
Comparing domestic milk intake figures for the first seven months of this year to the corresponding period in 2017 indicates a marginal drop of 0.6%.