EU member states decided at this week’s tender (the fourth) on Thursday 9 February not to return any skimmed milk powder from intervention stocks to the market (see EUROPE 11708).
21,962 tonnes of skimmed milk powder were available for sale in nine EU member states. The European Commission recommended that all offers should be turned down as they were well below prevailing market prices (the public intervention buying-in price is €169.80/100kg and the latest average price for skimmed milk for foodstuffs on the EU market is €204/100kg). Offers were received for a total of 1,796 tonnes in this current tender and the prices offered ranged from €155/100kg to €185/100 kg, well below the minimum price set at the first tender on 15 December of €215.10/100kg. At the first tender, 40 tonnes were put back on the market (see EUROPE 11692).
The European Commission is looking to sell 22,000 of skimmed milk powder from public intervention stocks (6% of the 354,000 tonnes put into public storage in 2015 and 2016) but has rejected virtually every offer submitted (there remain 21,962 tonnes). A fifth tender for the sale of the remaining quantity has been opened. “Better bids are expected in the next tender”, according to the Commission. (Original version in French by Lionel Changeur)