EU Intervention Stocks

Published 12 May 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 March, 8,030 tonnes of butter were offered into PSA and 4,403 tonnes were removed. At the end of March EU butter stocks under the PSA scheme totalled 38,608 tonnes. 202 tonnes of UK butter was removed during March, leaving only 108 tonnes in storage at the end of the month.

SMP stocks at the end of March totalled 15,571 tonnes. During March, 1,418 tonnes of SMP were offered into PSA and 2,196 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PSA for cheese was repealed on 23 September 2014 due to a disproportionate surge in offers from cheese producing countries not traditionally exporting significant quantities of cheese to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 March 20,536 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

22,223

0

16,547

 February 15

310

34,981

0

16,350

 March 15

108

38,608

 0

15,571

                                                                                                                                                         Source: MMO

 

PSA stocks