The private storage aid for butter and skimmed milk powder will be extended until 30 September 2016, following the approval by Member States of a proposal made by the European Commission.
The Commission put in place private storage aid schemes for butter and skimmed milk powder in summer 2014 to support producers facing the effects of the Russian import ban.
Following continued worldwide market imbalance, private storage aid schemes have already been extended three times since its introduction to ensure continuity of support.
Speaking at an event on the milk sector in the European Parliament, Commissioner Hogan said: "We want our farmers and dairy operators of all sizes to get a fair price for their hard work. We want them to continue delivering a world class product. We want to provide them with a greater degree of security and sustainability in their livelihood. The Commission will take all necessary steps to safeguard the livelihoods of our dairy farmers, and, indeed, the sustainability of our agri-food sector sector as a whole. I will use all the measures I possess to stabilise the market."