November 16, 2007

EU approves 456,000 tonnes of corn imports this week

The European Union's grain management committee this week has permitted import licences for 456,000 tonnes of corn. 

The EU granted as much as 6.15 million tonnes of corn into the 27-nation bloc by November 13, compared with 1.72 million tonnes by the same time last season.

Demand for corn from markets such as Brazil has increased in recent months as animal feed makers have scrambled for alternatives to wheat and domestic cereals in the face of record high prices fuelled in part by unfavourable weather conditions.

Weekly imports of sorghum hit 126,000 tonnes, taking the total volume permitted since the start of July to 1.8 million tonnes, compared to only 191,000 tonnes at the same time last year.

Animal feed makers have turned heavily to sorghum as a substitution for more expensive cereals.