EU rejects barley export refunds

By FWi staff

THE few traders applying for barley export refunds yesterday did so in hope, rather than expectation.

Applications were received for just 12,000 tonnes of barley exports – but with a reported range of Ecu59.43-62.53/ tonne, the highest seen for some time. Officials at yesterday afternoons Management Committee Meeting thought about digging deep into their pockets but then refused all bids.

The usual restitution rate ranges from Ecu30-55/ tonne and analysts say traders were probably testing the will of Brussels to encourage exports. But it was always unlikely that the refunds would be granted at such a high rate for fear of setting a precedent.

The only refunds granted were for 6,000 tonnes of wheat at a reported range of Ecu16.89-24.00/ tonne.

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