EU wheat refund at zero: HGCA

Tuesday, 01 May, 2001

  • LAST Thursday (26 April), the EU granted free-market refunds of zero value for 85,000 tonnes of wheat.

    MATIF May wheat firmed over the week, rising Euro.50 to Euro121/t Friday on new-crop concerns across the EU.

    France and the UK have had particularly heavy rainfall. Coceral estimates 2001 EU wheat production at 88.7m tonnes, 7% down from 95.5m in 2000.

    Some 14,000 tonnes of free market barley at zero were also granted but intervention barley was rejected.

    Further tranches of reduced levy maize were agreed of 175,000 and 45,500 for Spain and Portugal.

  • Global pressure on Euro interest rate

    INTEREST rates were left unchanged at 4.75% on Thursday (26 April).

    There has been strong international pressure for the ECB to reduce interest rates amid fears of a global economic slowdown. Latest IMF figures show weak growth for the
    USA, Japan and EU.

  • Euro1 = 61.95p or 88.76US&¢ on 30 April

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

    Click here to visit the Home-Grown Cereals Authority

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