Quota demand exceeded supply by 10 times

DEMAND for litres in the 11th milk quota trading scheme exceeded supply more than ten times.

As a result, 99% of all quota offered for sale was taken up by buyers, with 23.7 million litres successfully traded.

Of this, 16.7m litres was sold on the exchange at prices from 10 cent to 56 cent per litre. The remaining 7m litres was sold through the priority pool at the maximum price of 5 cent.