CEREALS : CUSTOMS DUTIES TO REMAIN SUSPENDED AFTER 30 JUNE.

Europe Agri, May, 2008

Owing to the ongoing tension over agricultural commodities, the European Commission will extend beyond 30 June 2008 the suspension of customs duties on imports of cereals. The EU's agriculture ministers decided last December to suspend the import duties until the end of the 2007-2008 season in response to the exceptionally tense situation prevailing on global markets and steep increases in cereal prices. Following the creation, in 2008, of a single common organisation of agricultural markets, the Commission now has the power to change the rate of duties applicable without having to refer to the EU Council of Ministers.

The elimination of compulsory set-aside is also expected to be maintained in the future, which should result in production of another 30...

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