EU ADOPTS TARIFFS ON GRAIN FROM RUSSIA, BELARUS
EU Council adopted prohibitive tariffs on grain products imported from Russia and Belarus, effective July 1 when the new regulation is published in the EU’s Official Journal. The regulation approved May 30 increases import tariffs for cereals, oilseeds and derived products as well as beet-pulp pellets and dried peas. In addition, those goods will be barred from access to the EU’s tariff rate quotas. “The new tariffs set today aim to stop the imports of grain from Russia and Belarus into the EU in practice,” said Vincent Van Peteghem, Belgian minister for finance.
“These measures will therefore prevent the destabilization of the EU’s grain market, halt Russian exports of illegally appropriated grain produced in the territories of Ukraine and prevent Russia from using revenues from exports to the EU to fund its war of aggression against Ukraine. This is yet another way in which the EU is showing steady support to Ukraine.” Russia is projected to export a record 53 million tonnes in the current marketing year, giving it a global market share of 26%, the highest in its history, according to the latest IGC Report. The figure is well ahead of the second largest exporter in 2023-24, the EU, which is forecast to ship 35 million tonnes.
(Link: WorldGrain)
UKRAINE GRAIN, LEGUME EXPORTS IMPROVE
Exports of grains and legumes from Ukraine are up to 46.4 million metric tons since the beginning of the 2023/2024 marketing year that started on July 1, according to the country’s Ministry of Agrarian Policy and Food. That’s up from 44.9 million tons during the same timeframe a year earlier. Corn shipments composed the bulk of the exports, totaling 26.2 million tons since the start of the marketing year and 3.31 million so far in May. Wheat exports from Ukraine were reported at 17.2 million tons and 1.45 million tons so far in 2023/2024 and in May, respectively, the agency said. Barley shipments since the beginning of July are now at 2.38 million metric tons, down from 2.63 million at the same point last year. Exports from May 1 through May 29 were reported at 171,000 tons, up from the 162,000 tons that were shipped in the same timeframe last year, the ministry said.
(Link: SuccessfulFarming)
