The European Commission continues to make progress on releasing its intervention stockpile of skimmed milk powder (SMP). At the latest tender sale held last week, almost 40,000t of SMP were offered for sale. Of this, the European Commission sold 23,532t of SMP out of intervention at a minimum selling price of €1,195/t.
The European Commission has now sold 100,000t of SMP out of intervention, with the majority of this product sold in the last three months.
Of the total sold at this week’s tender sale, almost 1,400t was Irish made SMP. A total of 1,640t of Irish SMP has now been sold at these tender sales, with over 35,000t of Irish made SMP still in intervention.
Higher price
Although volumes sold were lower than the previous tender sale in May when almost 40,200t were offloaded, the minimum selling price was higher by almost €50/t, reflecting the improvement in market spot prices for fresh SMP.
The latest tender sale by the European Commission reduces the volume of SMP sitting in intervention storage across Europe to just under 282,300t. At the next tender sale in July, the EU Commission will have more than 121,300t available to offer for sale to the market.
Read More
Smaller volume of SMP shifted in June sale
The European Commission continues to make progress on releasing its intervention stockpile of skimmed milk powder (SMP). At the latest tender sale held last week, almost 40,000t of SMP were offered for sale. Of this, the European Commission sold 23,532t of SMP out of intervention at a minimum selling price of €1,195/t.
The European Commission has now sold 100,000t of SMP out of intervention, with the majority of this product sold in the last three months.
Of the total sold at this week’s tender sale, almost 1,400t was Irish made SMP. A total of 1,640t of Irish SMP has now been sold at these tender sales, with over 35,000t of Irish made SMP still in intervention.
Higher price
Although volumes sold were lower than the previous tender sale in May when almost 40,200t were offloaded, the minimum selling price was higher by almost €50/t, reflecting the improvement in market spot prices for fresh SMP.
The latest tender sale by the European Commission reduces the volume of SMP sitting in intervention storage across Europe to just under 282,300t. At the next tender sale in July, the EU Commission will have more than 121,300t available to offer for sale to the market.
Read More
Smaller volume of SMP shifted in June sale
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