EU Milk Quotas Exceeded by Over Two Million Tonnes

Twelve countries will be paying surplus levies totalling roughly €818 million after they overshot their milk quota in the last year of the restrictions.

The nations exceeded their national milk quotas for deliveries in the 2014/2015 quota year by a total of 2,938,000 tonnes.

In addition, Belgium and the Netherlands overshot their direct sales quota respectively by 529t (1.6 per cent) and 1,990t (2.6 per cent) and face an additional levy of respectively €147,000 and €554,000 – read more.

Latest Global Dairy Trade Auction Breaks Firming Trend

The latest Global Dairy Trade auction registered a 3.1 per cent drop in the GDT Price Index from the previous event on 6 October.

The average price of the index at the event was $2,735/MT.

The results broke a trend of the previous four events, which all showed increases in the price index, with the biggest increase coming on 15 September at 16.5 per cent.

Skim milk powder and whole milk powder registered falls of 4.5 and 4.6 per cent respectively, compared to the last auction's results of 13.4 and 12.9 per cent increases respectively.

Meanwhile, butter displayed the biggest fall out of all the products at 11.1 per cent – read more.