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Coughlan Announces Results Of Fourth Milk Quota Trading Scheme - Fourth Exchange achieves strongest Quota Trade yet

Coughlan Announces Results Of Fourth Milk Quota Trading Scheme

The Minister for Agriculture, Fisheries and Food, Mary Coughlan T.D., today announced the aggregate results of the fourth Milk Quota Trading Scheme. Welcoming a new high in the proportion of quota sold to date, the Minister said: "I am delighted that the fourth Trading Scheme has further improved on the record achieved last December. Today the volume traded has reached 98 per cent - almost all quota offered has been sold either on the exchange or through the priority pool".

Commenting further on the results, Minister Coughlan confirmed that a total of just under 57 million litres of milk quota was offered for sale, with 55.5 million litres successfully traded. Of this total, 42.5 million litres was sold on the exchange at prices ranging from 14 to 45 cent per litre, and 13 million litres was sold through the priority pool at the maximum price of 12 cent per litre.

The Minister again highlighted the importance of the changes made to this year's Scheme, which have significantly increased the amount of quota sold on the exchanges and directed higher volumes of quota to Category 1 producers (producers with quota of less than 350,000 litres) compared to 2007/2008. She confirmed that the Trading Scheme will now undergo a further review in conjunction with the farming organisations and ICOS. "The review of this year's Scheme will commence after Easter, with the focus once again on facilitating the highest possible rate of transfer of quota to active producers. Any agreed changes will be put in place over the summer so as to facilitate an early-October closing date for the first stage of the 2009/2010 Trading Scheme".

The Minister concluded by thanking the Co-ops once again for their cooperation in the implementation of the Trading Scheme. Full results for their respective areas will be sent to the Co-ops tomorrow.

Note for Editors

Aggregate results of the fourth Milk Quota Trading Scheme are attached. (xls 15Kb) 

Date Released: 12 March 2008