All tenders for Europe’s giant stockpile of skimmed milk powder were again rejected by the European Commission.
The latest tender saw bids as low as €1,380/t for the product. A total of 6,554t of powder has been added to intervention stocks so far in 2017, bringing the overall total held by the Commission to over 356,000t.
Speaking to Agriculture MEPs last week, Agriculture and Rural Development Commissioner Phil Hogan said skimmed milk powder remains an issue and added that it is being used by some people in the trade in order to “talk down prices in the market place”.
“We are working on proposals and we have learned from the 2009 experience when we had quotas and we had 250,000t in storage at that point even with quotas.
“We have to manage this well so that we don’t drive down the price to the farmer. We have rejected all tenders on the market place that have been offered.