Latest SMP tender results

Published 12 February 19

At the latest tender for EU SMP intervention stocks on 5 February, only 584 tonnes of product were sold. This follows the recent mammoth clearing of intervention by the Commission, where just under 160,000 tonnes of SMP were sold between December 2018 and January 2019.

Bids totalling 2,172 tonnes were received in the latest tender, however only 27% of this was sold at the minimum fixed price of €1,622/tonne. The latest price is the highest since June 2017, reflecting gains in EU powder markets.

The latest sale leaves just over 3,000 tonnes of SMP for the next tender on 19 February. UK stocks remain unchanged at 389 tonnes, with the majority of the sales coming from Spain.

The Commission last week implemented a regulation to only accept tenders on a monthly basis, instead of fortnightly, beyond 19 February.