Brussels scraps grain import levy

11 October 2001

Brussels scraps grain import levy

By Olivia Cooper

BRUSSELS has voted to remove the Euro10/tonne import levy on Black Sea and Baltic grains in an effort to lower prices within the European Union.

Members of the Cereals Management Committee voted to remove the import levy from 9 November, fearing that internal prices are too high.

This will make eastern European wheat and barley 6.30/t cheaper to import into the European Union.

The move is unlikely to impact directly on UK markets, but will pressure prices on the Continent, said trader James Maw of Glencore Grain.

This will mean cheaper imports to the UK, he added.

The plans were first discussed in Brussels two weeks ago, and UK prices have already fallen in response.

A decision was expected at last weeks meeting, but was delayed because of opposition to the measures.


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