Brussels, 11/06/2007 (Agence Europe) - In Luxemburg on Monday 11 June, EU Agriculture Ministers adopted, by qualified majority, the regulation to phase out the system of public intervention purchases of maize over a three year period. Bulgaria, Denmark and Greece all voted against the text and two others - Cyprus and Hungary - abstained. The regulation will set a limit of 1.5 million tonnes on maize intervention purchases in 2007-2008, falling to 700,000 tonnes in 2008-2009 and then to zero from 2009-2010.
The European Commission initially called for an end to this market management tool from 2007. Agriculture Commissioner Mariann Fischer Boel was, nevertheless, satisfied with the compromise finally agreed in Council. She pointed out that in 2005-2006, maize intervention stocks amounted to 5.6 million tonnes, or 40% of total public cereal stocks. Had the current system be retained, these stocks, which are bought and stored at public expense, would have risen to as much as 14.1 million tonnes by 2013. “Maize grown in surplus Central European regions will regain its competitiveness, both domestically and on world markets. (The removal of maize intervention) will also help boost the competitiveness of pig and poultry production in these regions by reducing the cost of feedstuffs,” the Commission notes. Ending maize intervention will result in overall savings of €617.8 million for the period 2008-2014. (lc)