This is a subscriber-only article
Some 23,533t of skimmed milk powder (SMP) has been sold from stocks held in intervention by the European Commission.
In the latest sale, SMP sold for €1,195/t, and no bids were accepted for the buying in of SMP.
A larger amount was sold in the previous sale, with 42,000t being sold in May. However, this was at a lower price of €1,150/t.
The Commission has stated that it is considering doubling the monthly sale of SMP given strong market demand, and the dairy industry is currently waiting on a vote to finalise that decision.
There had been fears that sales of SMP from intervention would unbalance the dairy market.
However, sources within the industry are reportedly positive about the overall increase in volume of SMP now being sold, especially given the background and recent decrease in the overall Global Dairy Trade at the last auction.
SHARING OPTIONS: