15 June, 2005

EU: Grain stocks in EU intervention

Grain stocks in EU intervention are almost 16 million tonnes, a heavy burden for the EU Commission, the tax-payer and world markets. Agricultural Commissioner, Mrs. Fischer Boel, has declared several times that a success of the WTO’s Doha Round is the EU’s target. That must lead to an abolition of export refunds, a lesser domestic support and an easier access for imported goods.

The market wonders, whether some measures like stricter intervention terms could already apply in the grain year 2005/06. So far it is only known that the strict mycotoxine rules, which became part of EU food laws, will also be introduced to grain intervention rules. In the longer run, lower intervention prices or prohibitive quality specifications for intervention cannot be excluded. Obliged by a WTO panel, the EU will suggest to reduce sugar price levels by 39 % and abolish sugar intervention. That may be also a point for the future grain policies.

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