EU re-bases export subsidy HGCA

Wednesday, 10 November, 1999

  • The EU awarded 276,000 tonnes of wheat on 28 October for open-market exports, the largest amount since mid-August. The large increase occurred because the EU grain panel decided to re-base its export subsidy calculation on a higher quality of French wheat.
  • ONIC, the French Cereals Authority has estimated that 450,000-1 million tonnes of wheat could be offered into intervention during the first four to six weeks of the buying season.
  • In contrast, EU barley exports are expected to slow because of reports that Brussels may wait until next year to issue more quantities of free market restitutions.
  • EU wheat markets held steady this week because of intervention.
  • Germany has had a quiet trading week, with prices largely unchanged. Offers into intervention since 3 October have been 43,700t of wheat, 458,900t of rye, and 720,500t of barley.
  • German sellers are gearing up for price support over the forthcoming weeks following reports of limited processor supplies, suggesting demand may improve.
  • Denmarks malting barley prices have been steady, supported by trading mainly with Finland and Sweden.
  • Swedens grain harvest this year is thought to be down from last years level of 5.6m tonnes to 5.1m tonnes, although quality has improved.

    HGCA
    Taken from HGCA weekly MI Bulletin
    To contact the HGCA phone 020 7520 3972


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