Decrease in milk prices harming Slovak agriculture

The abolition of milk quotas in the EU and a related decrease in prices is significantly harming the Slovak milk industry, Slovak Agriculture and Rural Development Ministry spokesman Peter Hajnala said Monday.

"The current decreases in milk purchasing prices in Slovakia are the result of an excess of supply over demand on the market. When compared to June 2014, the drop was as much as 19.7 percent year-on-year," stressed Hajnal, adding that current price is 27 euros (29 U.S. dollars) per 100 kg of raw milk.

"Given that this is clearly the result of developments in supply and demand, the state's options are very limited. EU member states expect the European Commission to take additional measures to stabilize the dairy sector," said Hajnala.