The European Commission announced, on Thursday 27 August a further revision of EU import duties for maize, sorghum and rye. These duties are set at € 0 per tonne as of 27 August 2020 (see EUROPE 12481/16).
The revised tariff is calculated on the basis of the difference between the European reference price and the world reference price for maize (i.e. the US cif price at the port of Rotterdam), in accordance with Community Regulation 642/2010.
Import duties for maize, sorghum and rye have been updated several times in recent months.
These duties increased from €0 to €5.27 per tonne at the end of April due to a significant drop in the cif price of maize in the United States. The last update set these duties at €5.48 per tonne on 12 August 2020, due to the fall in the price of maize in the United States and the US dollar against the euro.
U.S. maize prices rose again due to a variety of factors (10 August storm damage in the U.S. Midwest, dry and hot weather) that resulted in a lower U.S. maize crop forecast for 2020/2021.
Link to the Commission Regulation: https://bit.ly/3lp4RK4 (Original version in French by Lionel Changeur)