EU: grain intervention stocks sold out
The European Union (EU) has no intervention stocks of grain left. There is only 257,000 tonnes of maize still available, but this will be gone pretty soon as well.
However, the European Commission predicts that
the maize will be gone before July 1st 2008. Because there is almost no
grain available anymore in the United States, countries often buy grains in the
EU, which has caused the current scarcity.
the maize will be gone before July 1st 2008. Because there is almost no
grain available anymore in the United States, countries often buy grains in the
EU, which has caused the current scarcity.
It is uncommon that the EU
has no intervention stocks left, according to a spokesperson from the Dutch
Product Board for Agriculture. 2003 was the last time that the EU had no grains
left. The Commission has no tools left to influence the grain market via sales
from the intervention stocks. However, that the prices for grains will increase
is a fact, the Commission said.
Related website:
European
Commission
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