SMP Intervention Ceiling June 8, 2016 12:00 am The EU has proposed a further increase to the SMP intervention ceiling to 350,000 tonnes. This will be the second increase since it opened this year. The original ceiling was doubled to 218,000t, only to be reached by the end of May. The EU will continue to buy in product via a tender system until the proposal to increase the ceiling is adopted. At the rate powder is being sold into intervention the volume is expected to reach 300,000t in June. It must be remembered at some point all of this product will have to come onto the market which will do nothing to help the price recovery.
