August 10, 2007

 

Hungary grants 239,538 tonnes of corn to EU via intervention tender

 

 

A total of 239,538 tonnes of Hungarian corn was granted at Thursday's European Union intervention resale tender, EU figures showed.

 

The grain was granted at EUR190.07/tonne for resale back onto the domestic market.

 

There had been bids for a total of 260,000 tonnes of Hungarian corn at EUR176.25/tonne to EUR220.10/tonne.

 

There were no bids in the Hungarian wheat nor French barley intervention tenders.

 

Starting in the 2006/07 marketing year, the EU opened tenders to resell grain held in public intervention stores back on the internal market due to tight supplies. This has been carried on into the 2007/08 marketing year, which began in July.

 

The grain isn't allowed to be granted below domestic or intervention prices.