EU Commission sells 4,337t of SMP from intervention

A total of 4,337t of skim milk powder was sold off by the European Commission in the February tender of intervention stock.

Peter McCann

22 February 2018

EU Commission sells 4,337t of SMP from intervention

There were 99,116t of SMP available for the February tender.

The European Commission sold 4,337t of skim milk powder (SMP) from public intervention this week, according to sources in the dairy industry.

Reports suggest that the lowest price accepted for this tender of intervention stock was €1,100/t. This is significantly below the below the intervention buying price of €1,698/t.

“Market reaction to this news is somewhat negative with SMP futures prices easing a bit today,” market analyst with FC Stone, Peter Meehan said.

There were 99,116t of SMP available for the February tender, meaning 94,779t remain in intervention stores.

In January, 1,864t of product was sold at a minimum price of €1,190/t.

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