May 28, 2007

EU raises Hungarian corn intervention resale tender

The European Union grain management committee agreed Thursday (May 24) to raise the Hungarian corn intervention resale tender by 500,000 tonnes.

The EU has opened several tenders this season to sell intervention grain back on the internal market. The grain is not allowed to be granted below domestic or intervention prices.

Hungarian corn accounts for the bulk of the EU's current intervention stores.

In Thursday's intervention resale tender, a total of 272,140 tonnes of grain was granted, including 16,465 tonnes of soft wheat, 36,511 tonnes of barley, 218,514 tonnes of corn and 650 tonnes of rye.