European SMP prices slip closer towards intervention levels

Thursday, 16 April 2020

By Kat Jack

EU wholesale prices for SMP have been falling due to the impacts of coronavirus on the dairy markets. For the week ending 12 April the EU average SMP price was €1,965/t, down €130 (6%) on the week before. The Dutch prices are even lower, at €1,850/t as of the 15 April, unchanged from the previous week.

As SMP prices fall, they are gradually getting closer to the buying-in price for EU public intervention, €1,698/t. Intervention is currently open although there has not yet been any product sold into it. Although the EU average price is currently above the intervention price, for those at the lower end of the market who are getting below-average prices, intervention may soon be seen as a viable option.

Katherine Jack

Analyst - Dairy

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