86% of milk quota on offer was taken up in 12th trading scheme

A total of 86% of all milk quota offered for sale in the 12th trading scheme was taken up.

The second of two schemes for the 2012/2013 quota year, 29.3m litres of milk quota was offered, with 25.3m litres traded.

Of this, 16.6m litres was sold on the exchange at prices from 8c-50c per litre. The remaining 8.7m litres was sold via the priority pool at a max price of 5c per litre.

“This is a return to the level of demand of this time last year and down from the significantly higher demand in the previous stage, last December,” Agriculture Minister Simon Coveney said.

“The volume offered for sale was also up on that offered in the previous stage, thereby giving a ratio of a little over 5:1 in demand over supply.”