30 Jun 2016
SMP INTERVENTION CEILING RAISED – 30 JUNEBrussels Daily
SMP Intervention ceiling formally raised
New rules increasing the public intervention ceiling for Skimmed Milk Powder (SMP) from 218 000 tonnes to 350 000 tonnes formally enter into force today. This move follows a strong take-up of SMP intervention in response to the current market crisis, and follows on from the exceptional measures announced by the Commission at the March Agriculture Council.
The increase in the intervention ceiling comes at a moment when the volumes of SMP bought up so far this year have already reached 296 525 tonnes, of which 218 000 tonnes via “fixed price” intervention and 78 525 tonnes via intervention tenders. This latter figure includes bids for 15 127 tonnes of SMP from twelve Member States which were accepted by the Commission last week under the tender system at a maximum price of € 169,8/100 kg (the intervention price) – as backed by last Thursday’s CMO Committee. With the increased ceiling now in place, intervention buying-in of SMP has now reverted to the fixed price system. See a detailed breakdown [2 MB] of the quantities bought-in under public intervention and/or stored in private storage, per week and per Member State.
In his statement on the market situation [206 KB] to Monday’s Council of Agriculture Ministers in Luxembourg, Commissioner Phil Hogan confirmed that: “The Commission is working on a support package for the dairy sector, with financial resources if necessary“.