According to the latest figures released by the European Milk Market Observatory (MMO), Ireland has sold almost 1,970t of skimmed milk powder (SMP) into public intervention as of the first week of October. A total of 22,000t of SMP has now been offered to EU public intervention by nine member states, including Ireland.

And while Ireland is ranked behind Belgium (7,890t), Lithuania (5,449t) and Poland (2,572t), the figures show that volumes of SMP offered into public intervention have been steadily declining over the past three weeks.

The last amount offered by Ireland totalled just 72t of SMP, perhaps further indicating that global dairy markets are improving – particularly in the wake of four consecutive lifts in the Global Dairy Trade Index, a barometer for global dairy markets.

The figures also show that Ireland has offered more than 7,250t of SMP into EU private storage aid (PSA), although nothing has been offered for storage since early September. The total volume of SMP offered for private storage in the EU is just below 50,400t with Denmark supplying much of this with over 17,660t offered.

Butter

The volume of butter offered into PSA by EU member states is close to 152,320t, with 10 countries availing of the market support measure. With more than 62,200t offered, the Netherlands tops the table in terms of volumes and is then followed by Ireland with almost 27,400t offered into PSA.

Again, while Irish butter product has been put into storage every week since May, volumes are well back from the peaks offered in late July/early August. The volume of Irish cheese offered for private storage this year stands at 7,109t. Aside from Italy, which offered more than 84,000t of cheese into intervention since early September, the amount of cheese offered into storage by EU member states is quite low.

Strong export demand for European cheese, particularly from the US where European cheese exports are 21% ahead of last year, has offset the need for countries to avail of support mechanisms for cheese.