SMP intervention volumes break through raised limit

Published 26 May 16

SMP offers into intervention are now subject to a tendering procedure once again. The volume limit for powder to enter at a fixed price was reached on 24 May, despite the EU Commission recently doubling the ceiling to 218k tonnes.

The deadline for submissions for the first round of tenders is Tuesday 7 June. The closing date for subsequent tenders will be the first and third Tuesday of the month, with intervention due to remain open until 30 September 2016.

EU Commissioner Phil Hogan announced today (26 May) that he intends to propose a further increase in the intervention ceilings, up to 350k tonnes.