The European Commission published an implementation regulation in the EU Official Journal on 8 August setting import duty for cereals that applies from 8 August 2017.
Import duties have been adjusted for maize, sorghum and rye. In a press release published on 8 August, the European Commission explains: ‘In light of an ample supply and low prices for maize, the automatic mechanism calculating import duties was triggered, setting as of today import duty on maize, sorghum and rye at €5.16 per tonne. This will ensure that European producers are not put at a disadvantage in the current market conditions.’
The decision is based on Regulation 642/2010 regarding cereal sector import duties, which provides that the import duty on maize, sorghum and rye should be calculated according to the difference between a reference EU price and the US maize price.
It comes in response to the situation on the maize world market where a record global maize harvest is expected in 2016/17 resulting in ample supply and low prices.
The 2016/17 global maize production is expected to be a record 1.072 billion tonnes, and carry-over of world maize stocks at the end of the 2016/17 marketing year 232 million tonnes.
The import duties shall apply until new import duty rates are set. (Original version in French by Lionel Changeur)