Low prices fail to shift stocks

Published 28 February 18

In the most recent tender, the Commission sold 4,337 tonnes of SMP from intervention stocks at a minimum price of €1,100/tonne. This is the lowest minimum price fixed by the Commission of the 17 tenders held to date, and well below average prices for feed quality SMP (€1,245/tonne).

Despite the low price accepted in the most recent tender, only 2% of total intervention stocks have been sold to date and around 378,000 tonnes remain.

The SMP in intervention has now been stored for a significant amount of time, reducing its appeal by food manufacturers. With prices for fresh product relatively low, and more than ample supplies, it is likely that intervention SMP will be directed to the feed market.