The European Commission announced on Thursday 24 January that 99% of the skimmed milk powder in public storage has now been put back on the market (see EUROPE 12170).
The last tender sale on Thursday covered a total of 18,514 tonnes of skimmed milk powder.
“The stocks have prudently released, maintaining market balance and supporting the recovery of the dairy sector after the 2015-2016 market crisis”, the European Commission summarised.
A total of 380,000 tonnes of skimmed milk powder were bought by the European Commission between 2015 and 2017, thanks to public intervention aimed at stabilising the market and supporting farmers' income.
A process of monthly and later bi-monthly public tenders was opened by the Commission at the end of 2016 to carefully sell the products back into the market.
The next tender (4,000 tonnes out of a total of more than 380,000 tonnes remaining) will take place on 7 February. (Original version in French by Lionel Changeur)