Irish producers have placed more than 11,000t of butter into private storage since the European Commission opened the private storage aid (PSA) scheme as a response to the market difficulties posed by COVID-19.

Data provided by the European Commission shows Irish dairy co-ops placed 11,194t of butter in private storage between 7 May and 7 June, which equates to 23% of the total amount of butter in private storage across Europe.

The only country with more butter in private storage is the Netherlands. Dutch dairy companies and traders have placed almost 17,600t of butter in storage since early May.

Cheese

Meanwhile, Ireland filled its private storage quota for cheese in the first week the scheme was opened. Ireland was granted a quota of just 2,180t for the private storage of cheese. Other countries like Italy, Spain and the UK have also filled their quotas for private storage of cheese.

At the same time, Germany, which received the largest quota for the private storage of cheese at 21,726t, has barely availed of the scheme, with less than 650t of German cheese placed in private storage. Similarly, France has used just 5,880t of the 18,395t quota it was given.

SMP

Interestingly, Ireland has placed no skimmed milk powder (SMP) in private storage since the scheme opened. Indeed very few countries have placed SMP in private storage since PSA opened in May despite the sharp fall in milk powder prices.

On the meat side, there has been very poor uptake by all member states of the private storage scheme offered for beef and lamb. Just over 1,500t of beef was placed in private storage cold stores by all member states since the scheme opened in May. Ireland placed just 20t of beef in cold storage in the first week of May.