The European Union has imposed import duty on maize, rye and sorghum
for the First time in the last three years, the EU imposed import duties on corn. According to the official representative of the European Commission, this step had to go because of the price reduction on the culture amid a record global supply of feed grains.
the European Commission said Tuesday 08 August will be charged a fee in the amount of 5,16 €/ton in the import of corn and rye, and sorghum.
the Introduction of import duties was predictable, traders said, after the recent significant strengthening of the Euro, which gave a competitive advantage to exporters of the United States.
the EU is a major producer of corn, but to fully meet domestic demand forced to import significant quantities of grain. In recent years, Ukraine is the largest supplier of corn to the EU. In addition, the EU imports corn from other Eastern European countries and from North and South America.
With November 2014, the EU imposed a zero import duty on maize.
the Decision to refund fees caused by lower prices for imported grain below the threshold level applied in the EU. EU rules require the introduction of duties, if import prices (calculated on the basis of the export prices of the USA plus the cost of ocean freight) will be below the threshold of 157 €/t for at least 10 days. The fee covers the difference between the import price and the threshold level of the EU, and can be adjusted according to changes in import prices.
the European Commission last month sharply reduced the forecast of the corn crop this year in the EU and the increased import forecast to a record 15 million tons, so the traders hoped to increase exports of Ukrainian maize to Europe. The introduction of fees will significantly affect the purchase price of Ukrainian corn, while they are on the same level as last year - 146-148 $/ton with delivery at the ports in October.
Return the import duties on maize will not affect the annual duty-free quotas applied in the EU, including Ukraine.