EU Intervention Stocks

Published 17 July 15

Please note this page will now be updated on a monthly basis.

The European Commission re-opened Private Storage Aid (PSA) on 5 September 2014 in response to the threat of market disruption due to the loss of the Russian export market. It will remain open until to the end of September 2015. For information on weekly offers into PSA please click here.

PSA is a payment made by the European Commission to processors in return for keeping products in storage and off the market for an agreed period of time. The scheme covers butter and SMP and was temporarily extended to cheese.

During May 17,729 tonnes of butter were offered into PSA and 3,874 tonnes were removed. At the end of May EU butter stocks under the PSA scheme totalled 63,810 tonnes. 892 tonnes of UK butter were added and 85 tonnes removed during May, leaving 1,220 tonnes in storage at the end of the month.

SMP stocks at the end of May totalled 14,671 tonnes. During May 3,614 tonnes of SMP were offered into PSA and 3,217 tonnes were removed. No SMP from the UK remains in PSA.

PSA for cheese was repealed on 23 September 2014 due to a disproportionate surge in offers from cheese producing countries not traditionally exporting significant quantities of cheese to Russia. In the 18 days that the scheme was open 100,803 tonnes of cheese were offered. At the end of May16,619 tonnes remained in storage under the scheme.

Cumulative stock levels

PSA stock levels (tonnes)

 

Butter

SMP

 

UK

EU

UK

EU

September 14

587

12,061

0

6,281

October 14

739

18,835

80

13,060

November 14

695

19,567

0

13,878

December 14

550

20,471

0

16,003

January 15

390

22,203

0

16,547

 February 15

310

34,981

0

16,350

 March 15

108

38,956

 0

15,571

 April 15

413

49,956

 0

14,274

May 15

1,220

63,810

0

 14,671

                                                                                                                                                         Source: MMO

PSA stocks