EU Intervention Stocks

Published 22 January 15

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.

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 had also been extended to cheese.

Since the scheme re-opended 26,749 tonnes of butter have been offered into the scheme, 841 tonnes from the UK. The majority of offers have come from Ireland and the Netherlands.

A total of 17,970 tonnes of SMP have been offered into PSA since the scheme opened. The majority of these offers have come from Germany.

PSA for butter and SMP will remain open until 28 February 2015.

PSA for cheese was repealed on 23 September due to a disproportionate surge in offers from cheese producing countries not traditionally exporting significant quantities of cheese to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. The majority of the offers came from Italy.

 

tonnes

   

 

Butter

SMP

week commencing

UK

EU

UK

EU

10/11/2014

0

280

0

168

17/11/2014

0

359

0

471

24/11/2014

0

203

0

137

01/12/2014

0

158

0

765

 08/12/2014

0

115

0

723 

15/12/2014

0

112

0

552 

 22/12/2014

 0 

652

0

967

 29/12/2014

0

837

0

0

 05/01/2015

0

2,542

0

0

 12/01/2015

0

1,813

0

628

Cumulative Total

841

26,749

80

17,970

Source: MMO

Figures reflect quantities offered to PSA.

 PSA stocks