The EU government supported public intervention programme has accepted 197 tonnes of skim milk powder. Lithuania is the first member state to put product into intervention.
The intervention price for SMP is €1698/t which is above market prices in some countries.
This week Dutch quotations for SMP fell €20/t to €1680/t.
The volume of SMP in the public intervention programme has been nil since August 2012. Intervention stocks of SMP peaked in October 2009 at 267,740t.
In addition to the intervention programme EU manufacturers are able to place product into Private Storage Aid (PSA). PSA is a scheme in which the cost of storing product is subsidied by the European Commission. At the end of May there was 14,674t of SMP held in PSA.
