The Dealer understands that a bidder today offered a derisory €800/t for all of the current 380,000t of the skim milk powder (SMP) currently in intervention.
I’m told only a small amount, in the order of 40t, of SMP was sold at €1,390/t.
That price is what the Commission called a discount on the current food grade price but above feed grade price.
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Speaking at Dairy Day in Punchestown, European Commissioner Phil Hogan warned that the existing SMP stocks and future intervention need to be carefully managed.
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The Dealer understands that a bidder today offered a derisory €800/t for all of the current 380,000t of the skim milk powder (SMP) currently in intervention.
I’m told only a small amount, in the order of 40t, of SMP was sold at €1,390/t.
That price is what the Commission called a discount on the current food grade price but above feed grade price.
Speaking at Dairy Day in Punchestown, European Commissioner Phil Hogan warned that the existing SMP stocks and future intervention need to be carefully managed.
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