September 15, 2006

EU raises domestic intervention corn resale tenders

The European Union's grain management committee decided in Thursday's (Sep 14) meeting to raise the tender to sell intervention corn held in Hungarian and Slovakian stores back on the domestic market, sources said.

Hungary's tender was raised by 200,000 tonnes and Slovakia's was raised by 100,000 tonnes.

Through the current resale tender, the EU Thursday granted a total of 132,728 tonnes of corn, which included 109,913 tonnes from Hungary at EUR104.55 a tonne and 22,815 tonnes from Slovakia at EUR105.17 a tonne.

The intervention grain granted is for use on the internal market only and can't be granted below domestic or intervention prices.