May 5, 2006

EU grants 44,000 tonnes free market wheat at EUR6.20/tonne

The European Union grain management committee Thursday (May 4) granted 44,000 tonnes of subsidised wheat from the free-market in its weekly tender Thursday, EU data shows.

The wheat was granted with a maximum refund of EUR6.20/tonne.

Traders had issued a total of 24 bids for a combined 184,000 tonnes of export licenses for refunds between EUR4.48/tonne and EUR8.74/tonne.

In last week's tender the committee granted 61,000 tonnes of wheat at EUR6.20/tonne and 3,000 tonnes of barley at EUR5.00/tonne.

This week the one bid to export 10,000 tonnes of free-market barley at EUR9.74/tonne was rejected.

There were no bids to export free-market oats.