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Smith announces results of eight Milk Quota Trading Scheme

The Minister for Agriculture, Fisheries and Food, Brendan Smith TD, today announced the aggregate results of the eighth Milk Quota Trading Scheme, which is the second of two that will allocate quota in respect of the 2010/2011 quota year. Commenting on the outcome, the Minister said: "I am very pleased with the results of this latest exchange. The volume of quota offered for sale on this occasion was 16 per cent higher than in the first stage of the 2010/2011 Scheme, and although demand was slightly down compared to last time, the overall volume traded increased by nearly 30 per cent. The expectations of buyers and sellers were therefore more closely matched, with the result that the exchange performed extremely well."

Commenting further on the results, Minister Smith confirmed that a total of just over 44 million litres of milk quota was offered for sale, with 28 million litres successfully traded. Of this total, 22 million litres was sold on the exchange at prices ranging from 4 to 18 cent per litre. The remaining 6 million litres was sold through the priority pool at the maximum price of 6 cent per litre, with the exception of Kerry, where the priority pool price followed the market clearing price to 5 cent per litre, and Lakelands and Connacht Gold, where the price fell to 4 cent per litre.

The Minister concluded by thanking the Co-ops once again for their cooperation in the implementation of the Trading Scheme. Full results for their respective areas will be sent to the Co-ops in the next few days. A comprehensive review of the 2010/2011 Scheme will be conducted with the farming organisations and with ICOS in the coming weeks.

Aggregate results of the eighth Milk Quota Trading Scheme are attached.
Milk Quota Trading Scheme 2010-2011 Stage 2 Exchange Results - Summary (xls 18Kb) 

Date Released: 22 March 2010