Sunday, July 3, 2022

More butter heads into private storage

Slightly under 5,000 tonnes of butter entered into the European Union’s (EU) private storage scheme last week.  

Data released on on 5 June by the European Commission, shows that 4,798 tonnes of butter was offered into private storage aid (PSA) in the week from 27 May-2 June.  PSA is a scheme where butter is placed into storage during the Northern Hemisphere's spring/summer period then the product is released back into the market during the Northern Hemisphere winter when supply is generally lower.  The 2013 scheme opened on 1 March 2013 and intakes of butter will conclude on 15 August 2013.  

Since the opening of the 2013 scheme 50,943 tonnes of butter has been offered into storage. This compares with 85,069 tonnes and 56,284 tonnes at the same stage respectively in 2012 and 2011.

 

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