EU Intervention Stocks

Published 18 March 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 January, 8,475tonnes of butter were offered into PSA and 6,723 tonnes were removed. At the end of January EU butter stocks under the PSA scheme totalled 22,223 tonnes. 390 tonnes of UK butter remains in storage under the scheme.

SMP stocks at the end of January totalled 16,547 tonnes. During January 1,922 tonnes of SMP were offered into PSA and 1,379 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PSA for cheese was repealed on 23 September 2014 due to a disproportionate surge in offers from cheese producing countries not traditionally exporting significant quantities of cheese to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 January 51,909 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 14

390

22,223

0

16,547

                                                                                                                                                         Source: MMO

 

PSA stocks