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SMP Intervention Reopened

Poland became the first country this year to offer SMP into public intervention. A total of 472 tonnes from Poland was accepted into intervention at the fixed price (€169.8/100kg) during the week of 27th March. Intervention will stay open until 30th  September, with a maximum quantity of 109,000 tonnes of SMP permitted at the fixed price. If these volumes are reached, intervention continues by tender until the end of the intervention period. (As in 2015-16, the Commission can amend these rules under exceptional circumstances).

With 350,000 tonnes of SMP overhanging the market built up in 2015-16, Commissioner Hogan has described intervention in terms of “a rugby up and under”, “it momentarily removes the pressure, but does not make it disappear.” He further stated “that the Commission will act cautiously and prudently in returning these stocks to the market”.

Acknowledging market realities, the Commission will move from bi-monthly to monthly tenders with a mere 40 tonnes released from intervention after seven tender events since December 2016.

Eamonn Farrell

Agri Food Policy Executive

Tags: Commissioner Hogan, SMP