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EU reintroduces export refunds for dairy products
At today's Management Committee, it was decided to reintroduce export refunds for certain dairy products for the first time since June 2007. The decision was taken in response to the serious situation on the EU dairy market, caused by a recent sharp fall in producer prices. Export refunds can be paid to allow EU exporters to continue to be present on the world market. The EU will, of course, fully respect the limits on subsidised exports set by the World Trade Organisation. The Commission will continue to observe market developments and will adjust the refunds accordingly. The measure will only apply for as long as market conditions so dictate. For skimmed milk powder (SMP), bids were accepted for a total of 5,612 tonnes at a maximum refund of 200 EUR per tonne (out of total bids for 15,172 tonnes). For butter (82 percent fat), bids were accepted for 2,299 tonnes at a maximum refund of 500 EUR per tonne (out of total bids for 9,566 tonnes). For butteroil, bids were accepted for 80 tonnes at a maximum refund of 580 EUR per tonne (out of total bids for 980 tonnes). At the same time, lower rates were fixed for the standing refunds (the refund rates at which exports can be carried between regular tenders). The rates were 170 EUR per tonne for SMP, 450 EUR per tonne for butter, 260 EUR per tonne for whole milk powder, and 220 EUR per tonne for cheeses.
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