As expected, the European Commission will continue to operate a Private Storage Aid scheme for SMP and Butter until at least 30 September 2016. This is the third occasion that the scheme has been extended since 2014. The European Commission also introduced a PSA scheme for cheese as part of the Dairy support package in 2015.

Last year, Ireland placed 6,137t of SMP into PSA, while the total amount of SMP across the EU placed into storage was 52,062t. At the end of 2015, stock levels of SMP in PSA stood at approximately 33,000t.

Also in 2015, Ireland placed 19,379t of butter into PSA, while the total amount of butter across the EU placed into storage was 141,366t. At the end of 2015, stock levels of butter in PSA stood at approximately 50,000t.

In addition, Ireland allocated 1,835t of cheese into storage, with 31,877t out of a maximum 100,000t used across the EU since the introduction of the PSA for cheese in October 2015.

Separately, in 2015, Ireland placed 1,843t of SMP into public intervention, with a total amount of 40,280t of SMP going into intervention in 2015. We have already exceeded our 2015 figure, as Ireland has offered 3,899t of SMP into public intervention since the beginning of 2016. The total amount of SMP in intervention across the EU stands at 29,810t year to date. Due to market dynamics, there is no butter in public intervention.

By Eamonn Farrell

ICOS Agri & Food Policy Executive