FDBusiness.com

99% of EU Skimmed Milk Powder Public Stocks Now Sold

 Breaking News
  • Coca-Cola HBC to Acquire Italian Water and Sparkling Beverages Company in €88 Million Deal Coca‑Cola HBC has agreed to acquire Acque Minerali, a privately-held natural mineral water and adult sparkling beverages business based in Italy. The acquisition is being made in conjunction with The Coca-Cola Company, in-line with previous similar acquisitions. The total enterprise value payable by Coca‑Cola HBC and The Coca‑Cola Company, subject to customary closing adjustments, amounts [...]...
  • Britvic Signs Up to Science Based Targets Initiative Britvic has pledged to pursue bolder greenhouse gas (GHG) emission reduction targets by signing up to the Science Based Targets initiative. Britvic joins around 600 leading companies from around the world in formally committing to independently verified science-based GHG emission reduction targets. Britvic’s A Healthier Everyday sustainability strategy recognises climate change as one of the biggest threats facing [...]...
  • Marks & Spencer Partners Infarm to Bring Urban Farming to London Stores M&S Food is partnering with infarm – one of the world’s most advanced urban farming platforms – to deliver a range of fresh produce grown and harvested in a selection of the retailer’s London stores. Customers will now find a range of fresh herbs – including Italian, Greek and Bordeaux Basils, Mint, Curly Parsley and Mountain [...]...
  • Coca-Cola European Partners to Remove 4,000 Tonnes of Single-use Plastic by Swapping Shrink Wrap For Cardboard in Western Europe Coca-Cola European Partners, will be replacing plastic shrink wrap with cardboard for its can multipacks across Western Europe, removing approximately 4,000 tonnes of single-use plastic per year across the region. This is the latest move in Coca-Cola’s commitment to tackle packaging waste and remove all unnecessary single-use plastic from its secondary packaging. Plastic shrink wrapping is used [...]...
  • EU Leading in Global Agri-food Trade The EU has been confirmed for yet another year in its position as the largest global exporter of agri-food products, with sales reaching €138 billion in 2018. Agriculture products represent a solid share of 7% of the value of EU total goods exported in 2018, ranking fourth after machinery, other manufactured goods and chemicals. Agriculture and [...]...

99% of EU Skimmed Milk Powder Public Stocks Now Sold

99% of EU Skimmed Milk Powder Public Stocks Now Sold
February 04
12:19 2019

The latest successful tender sale of skimmed milk powder public stocks means that 99% of the total stocks bought and managed by the European Commission have now been sold. The stocks have been prudently released, maintaining market balance and supporting the recovery of the dairy sector, following the 2015-2016 market crisis.

In total, 380,000 tonnes of skimmed milk powder (SMP) have been bought by the European Commission between 2015 and 2017 through public intervention to stabilise the market and support farmers’ income. A process of monthly and later bi-monthly public tenders was opened by the Commission at the end of 2016 to carefully sell the products back into the market.

Agriculture and Rural Development Commissioner Phil Hogan says: “The latest tender is a clear vindication of the Commission’s prudential approach to the management of the stock of skimmed milk powder, 99% per cent of which has now been successfully placed back on the market. My objective, at all times, has been to use public intervention as a measure to protect farmers’ incomes and, to that extent, we resisted calls over the last three years to reduce stocks through a number of ways or even by simply destroying the stocks. None of these options would have achieved the outcome we have now achieved. Instead, our patient approach ensured that not only were European dairy farmers’ incomes protected, but so too were the interests of the European taxpayer. Public intervention of skimmed milk powder has proven to be an effective tool, especially when used in a responsible and effective manner.”

Two years into the process, the warehouses have emptied and the milk price is higher at 36 cent per kg compared with 26 c/kg in the summer 2016.

With the latest sale of 18,514 tonnes, 1% of the original, overall stock of SMP is now left, with 4,000 tonnes remaining out of the original 380,000 tonnes. Out of the 14 Member States that were storing skimmed milk powder on behalf of the Commission, only 4 of them are now left with small stocks.

The next tender will take place on 7 February.

About Author

mike

mike

Related Articles

Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 1, 2019PPMA Total Show
  • October 17, 2019Future Food-Tech
  • November 18, 2019Plastics Caps and Closures Conference 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements