In 2017, 30,647 tonnes was sold into intervention at the fixed price with 11,085 tonnes bought in during the final seven day period from 25^th September to October 1^st.

Intervention allows the European Commission to buy up to 109,000 tonnes of SMP between 1 March and 30 September each year, at €1,698/tonne. The upper volume limit of 109,000 tonnes was extended due to exceptional circumstances in 2016.

A total of 8 countries availed of intervention in 2017 including Belgium, Germany, France, the Netherlands, Poland, UK, Latvia and Lithuania.

In summary, 40,280 tonnes was sold into intervention in 2015, a mammoth 334,551 tonnes in 2016 and a further 30,000 tonnes in 2017. The European Commission has held 12 tenders starting in December 2016 to release the stock build up with a mere 140 tonnes sold through this process to date.

The European Commission stated at the EMMO meeting held on 26^th September that they cannot anticipate when the stocks will be released, and downplayed the impact on the market noting that SMP represents 6% of milk usage in the EU.

By Eamonn Farrell

Agri Food Policy Executive