SMP into Private Storage (PSA) told a similar story with a relatively low 698t being entered. Poland offered 175t, Czech Republic 168t, Belgium 120t, Germany 100t, France 75t, and the Netherlands 60t.
The volume of SMP stock at the end of August in PSA was 24,127t. A total of 2624t flowed into the scheme for the month while 1969t was removed from the scheme.
The average EU SMP price for the week ending October 11 rose 1.4% from the previous week to €180/100kg. While this is 14% below year ago prices, it is extending the gap from the intervention price of €169.8/100kg. Poland is seeing quotes for SMP close to intervention of €173/100kg, Ireland is €171/100kg and Latvia is quoting SMP below intervention prices at €160/100kg.
Butter entered into PSA for the week was 1178t. A large portion of this came from the Netherlands with 883t. Belgium entered 157t, the UK entered 100t, Germany entered 22t and France entered 17t.
Butter stocks in PSA as at the end of August rose to 99,467t. A total of 22,742t came into the scheme for the month and 13,019t left the scheme.
The average EU price for butter for the week rose by 0.9% to €297/100kg, well above the intervention price of €221.75/100kg. The average EU butter price is just 4% below the price 12 months ago.
The average price for other dairy products also rose for the week. Whole milk powder +1.4%, edam +1.6%, gouda +0.4% and emmental +0.9%. There was no change for cheddar or whey powder. The whole milk powder price is just 1% below 12 months ago.
Download intervention and storage volume data
Download average EU prices here
