November 20, 2009

EU sees 527,054 tonnes wheat, barley offered to intervention

European Union wheat and barley offers for intervention stocks totalled 527,054 tonnes for the week ended Nov. 15, EU data showed Thursday (November 19).


Already 1.56 million tonnes of wheat, barley, corn and sorghum have been accepted into the bloc's intervention programme--in which the EU offers to buy grains at set prices for delivery to intervention stores to absorb surplus supplies--since it opened at the beginning of the month.


A second consecutive bumper grain harvest means large amounts of grain are expected to go into the scheme.


So far, the majority of offers have been for barley, partly due to the poor premium on malting barley prices.  

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