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Smith Announces Results of Seventh Milk Quota Trading Scheme

The Minister for Agriculture, Fisheries and Food, Brendan Smith, TD, today announced the aggregate results of the seventh Milk Quota Trading Scheme, which is the first of two that will allocate quota in respect of the 2010/2011 quota year. Commenting on the outcome, the Minister said: "Despite the country's overall quota position and the difficult year experienced by dairy farmers, demand for milk quota has held up very strongly. Indeed, demand has risen significantly compared to the most recent exchange last March. However, there has been a further fall in the volume of quota traded, which probably again reflects a degree of mismatch between the expectations of buyers and sellers. The continuing price reductions, however, are very welcome."

Commenting further on the results, Minister Smith confirmed that a total of just over 38 million litres of milk quota was offered for sale, with 18 million litres successfully traded. Of this total, 12 million litres was sold on the exchange at prices ranging from 5 to 17 cent per litre, with more than ninety per cent of this amount traded at or below 12 cent per litre. The remaining 6 million litres was sold through the priority pool at the maximum price of 6 cent per litre, with the exception of Kerry, Lakelands and Connacht Gold, where the priority pool price followed the market clearing price to 5 cent per litre.

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 in the next few days. Details of the next exchange will be announced early in January 2010.

NOTE FOR EDITORS

Aggregate results of seventh Milk Quota Trading Scheme are attached.

Exchange Total Volume Offered Total Volume Sought Market Clearing Price Volume Traded at MCP Volume Sought at MCP % Demand Satisfied at MCP Total Available Priority Pool Total Distributed From Priority Pool %of Priority Pool Allocated Successor Allocation Lost Lease Allocation Young Farmers Allocation Category 1 Allocation Successful Sellers UnSuccessful Sellers Successful Buyers UnSuccessful Buyers
Arrabawn 2,478,795 1,077,411 €0.00 0 0 0.00% 595,164 447,919 75.26% 0 0 102,996 344,923 0 20 16 5
Bandon 586,444 1,271,261 €0.17 410,511 514,321 79.82% 175,933 175,933 100.00% 0 42,903 79,818 53,212 5 0 17 3
Barryroe 0 160,000 €0.00 0 0 0.00% 0 0 0.00% 0 0 0 0 0 0 0 4
Boherbue 181,848 55,000 €0.00 0 0 0.00% 5,414 5,414 100.00% 0 0 0 5,414 0 2 2 0
Callan 311,718 1,313,666 €0.16 218,202 434,150 50.26% 93,516 93,515 100.00% 0 0 56,109 37,406 2 0 20 2
Centenary 1,080,714 1,525,000 €0.07 61,995 907,030 6.83% 151,827 173,824 114.49% 0 40,897 66,558 66,369 1 9 27 3
Connacht Gold 5,806,759 1,030,000 €0.05 171,556 171,568 99.99% 1,405,119 394,432 28.07% 0 0 200,000 194,432 25 57 7 4
Dairygold 2,750,262 19,564,903 €0.12 2,030,864 3,732,871 54.40% 652,454 652,455 100.00% 0 397,721 152,839 101,895 29 1 259 103
Donegal 1,861,966 964,614 €0.07 271,997 272,000 100.00% 194,267 10,768 5.54% 0 0 10,768 0 6 8 5 8
Drinagh 159,702 2,067,860 €0.13 73,129 100,000 73.13% 47,911 47,911 100.00% 0 47,911 0 0 1 1 2 32
Drogheda 2,847 10,000 €0.13 2,847 10,000 28.47% 2,847 0 0.00% 0 0 0 0 1 0 1 0
Glanbia 7,584,716 22,684,706 €0.12 5,410,960 7,159,341 75.58% 1,641,215 1,662,454 101.29% 0 551,732 653,690 457,032 47 4 307 79
Kerry 8,437,290 7,050,932 €0.05 1,194,308 5,138,213 23.24% 1,668,153 1,221,219 73.21% 0 50,000 340,667 830,552 17 79 112 12
Kill 57,620 0 €0.00 0 0 0.00% 17,286 0 0.00% 0 0 0 0 0 1 0 0
Knockraha 28,664 102,500 €0.11 20,065 36,768 54.57% 8,599 8,598 99.99% 0 0 0 8,598 1 0 3 1
Lakelands 4,620,275 2,720,833 €0.05 1,419,624 1,419,636 100.00% 1,192,504 714,197 59.89% 0 0 0 714,197 35 12 29 7
Lee Strand 712,874 0 €0.00 0 0 0.00% 158,723 0 0.00% 0 0 0 0 0 3 0 0
Lisavaird 501,019 2,130,481 €0.10 380,195 816,189 46.58% 120,824 120,824 100.00% 0 51,403 41,652 27,769 7 0 29 9
Newmarket 155,683 115,461 €0.00 0 0 0.00% 46,705 45,461 97.34% 0 0 0 45,461 0 1 1 2
North Cork 0 20,000 €0.00 0 0 0.00% 0 0 0.00% 0 0 0 0 0 0 0 1
Tipperary 621,639 1,062,178 €0.16 147,241 201,545 73.06% 178,675 178,672 100.00% 0 0 107,205 71,467 2 4 18 7
Town of Monaghan 192,143 95,000 €0.00 0 0 0.00% 57,643 45,000 78.07% 0 0 0 45,000 0 2 2 1
Wexford 180,932 3,815,600 €0.11 179,941 220,000 81.79% 991 991 100.00% 0 991 0 0 2 0 4 44
                                   
Total 38,313,910 68,837,406   11,993,435 21,133,632 63.18% 8,415,770 5,999,587   0 1,183,558 1,812,302 3,003,727 181 204 861 327

Date Released: 22 December 2009