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Article: Market monitor: support prices for butter and skimmed milk powder cut for second year in a row.(MILK--CHEESE--BUTTER--EGGS)
- Article from:
- Grocer
- Article date:
- July 2, 2005
CopyrightCOPYRIGHT 2005 William Reed Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Yesterday, July 1, the EU's dairy reforms moved into their second phase. Support, or intervention, prices for butter and skimmed milk powder were cut for the second year running--and there are two more years of cuts still to come.
This year, the intervention price for butter is coming down by 7.5%, equivalent in the UK to a 136 [pounds sterling]/tonne drop at current exchange rates. Skimmed milk powder is down by 5.3%, a drop of 68 [pounds sterling]/tonne.
Over the four-year period, the support price for butter will have fallen by 25% and for skimmed milk powder by 15%.
Those looking for immediate price cuts in the market may be disappointed. ...