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EU Increases WMP Subsidy

The Commission increased the WMP refund on the 28th May 2003 from 93euro/100kg to 102.40euro/100kg due to the continued low level of prefixations and strength of Euro against the US Dollar. SMP export subsidies were increased by 18% on 16 May 2003 in response to the fall in the value of the dollar against the euro and because EU offer prices onto the world market were getting close to US support prices. The subsidy on skim milk used for casein manufacture was increased by 14% on 8 May 2003.

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