95% of all quota offered for sale in Milk Trading Scheme traded

SOME 95% of all quota offered for sale in the first Milk Quota Trading Scheme for the 2011/2012 quota year has been successfully traded, and volumes have significantly increased on 2009 levels.

A total of just under 48 million litres of milk quota was offered for sale, with 46 million litres successfully traded.

Of this total, 34 million litres was sold on the exchange at prices ranging from 5 to 32 cent per litre, with 99% of this amount traded at or below 25 cent per litre. The remaining 12 million litres was sold through the priority pool at the maximum price of 5 cent per litre.