EU milk overflowing due to Russian ban

The European Commission has announced that it will open Private Storage Aid for butter, skimmed milk powder (SMP) and certain cheeses in order to alleviate the impact of Russian restrictions on imports of EU dairy products and to limit the negative effects on the internal market. The Commission has also confirmed that the period for public intervention of butter and SMP will be extended until the end of the year.

EU Agriculture and Rural Development Commissioner Dacian Cioloș explained:“Price signals on the European dairy market show that the Russian ban is starting to hit this sector. In a number of member states export earnings are being lost and new outlets need to be found. The European dairy sector needs time and help to adapt so I am announcing today targeted market support, focusing on milk powder, butter and exported cheeses If needed, further measures will follow.”

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