February 11, 2011

Hungary Poultry Products Council calls for state intervention

Hungary's Poultry Products Council will be proposing to initiate immediate state intervention purchases of 500,000 tonnes of corn so as to avoid local shortages arising from feed exports at a meeting with the Rural Development Ministry.

The council states that wheat shortage in Europe is driving up corn prices, which rose to HUF58,000-60,000 (US$288.33-298.26) per tonne recently, and warns that much corn is being exported due to high prices abroad.

Responding to earlier concerns, the Rural Development Ministry said last week that Hungary's corn harvest alone is more than 3 million tonnes over domestic demand.