February 1, 2016

 

EC extends storage aid for butter, skimmed milk powder

 

 

The European Commission has extended the private storage aid for butter and skimmed milk powder until Sept. 30, 2016.  The EC put in place private storage aid schemes for butter and skimmed milk powder in summer 2014 to support producers facing the effects of the Russian import ban.

 

The private storage aid schemes have already been extended three times since its introduction due to continued worldwide market imbalance.

 

Speaking at an event on the milk sector in the European Parliament, Commissioner Hogan said: “We want our farmers and dairy operators of all sizes to get a fair price for their hard work. We want them to continue delivering a world-class product. We want to provide them with a greater degree of security and sustainability in their livelihood. The Commission will take all necessary steps to safeguard the livelihoods of our dairy farmers, and, indeed, the sustainability of our agri-food sector as a whole. I will use all the measures I possess to stabilise the market”.

 

The private storage aid schemes for dairy and pigmeat are aimed at stabilising the markets effectively.

 

They involve withdrawing a sufficient volume of product from the market for a sufficient period to allow the market to recover.