November 27, 2007

EU commission seeks to suspend most grain import duties
 

The European Commission proposed on Monday (November 26, 2007) to suspend import duties on all cereals except oats for the 2007-08 marketing year (July-June).

Back in September Mariann Fischer Boel, commissioner for agriculture and rural development, had said she planned to issue such a proposal.

"I hope this proposal will help facilitate cereals imports from outside the EU (European Union) and reduce tensions on European grains markets," said Boel.

Crop problems in the EU this summer and in key wheat producers around the world have cut stock supplies to very tight levels. Global wheat supplies are forecast to end the 2007-08 crop year at a three-decade low.

So far in the 2007-08 campaign the EU has been a net importer of grain.