SMP intervention limit officially tripled

Published 29 June 16

The volume limit for SMP to enter intervention at the fixed price has been officially raised to 350k tonnes, effective from tomorrow (30 June 2016). This is the second increase to the SMP limit, which is now more than three times its original volume of 109k tonnes. The ceiling for butter has been held at 100k tonnes, with none having entered the 2016 scheme so far.

Any tenders submitted since the last tendering period closed on 21 June are expected to be considered not valid by the European Commission, reports Eucolait. The scheme will now move back to fixed pricing and a regulation formally closing the tendering procedure is expected to be published tomorrow.