Brussels, 13/06/2008 (Agence Europe) - The EU's Management Committee for Cereals, made up of experts from the member states, backed a suggestion on Thursday 12 June that a regulation temporarily suspending import duties on most cereals be extended by a year until 30 June 2009. The European Commission explains that the measure “is a reaction to the continuing tight situation on the cereals markets and the resulting high price levels.” There are no export refunds on cereal exports.
Import duties on cereals were initially suspended for six months at the end of December 2007 until 30 June 2008 (see EUROPE 9571). The European Commission says that it will now extend the suspension until 30 June 2009 “unless market conditions justify their reintroduction before that date.”
The outlook for the cereals market for the start of the next marketing year (2008-2009) suggests that prices will remain high, given the low world stock levels. The European Commission has added two types of cereal to the list currently covered by the lifting of import duty, namely millet and buckwheat. This means that the only cereal covered by import duty in 2008-2009 is oats. (L.C./transl.fl)