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Exports from Hungarian intervention store can start anytime
MTI Hungarian News Agency
All paperwork has been completed for the export of 80,000 tonnes of grain from Hungary's intervention store, and traders may start selling the stocks immediately, Agriculture Ministry undersecretary Andras Pasztohy announced on Wednesday.

The grain is part of 1.5m tonnes of Hungary's intervention store the European Commission has approved for export within the EU. Included in this amount are 700,000 tonnes of grain Hungary will deliver to drought-stricken Spain and Portugal. The EU will pay a special EUR 60-per-tonne subsidy on these deliveries to cover the cost of transporting the grain. Portugal will get 80,000 tonnes of feed maize, 80,000 tonnes of wheat and 40,000 tonnes of barley. Spain will get 100,000 tonnes of feed maize and 200,000 tonnes of milling wheat. Traders must pay a deposit of EUR 0.25 on each tonne of feed maize for delivery and a deposit of EUR 80 per tonne of milling wheat.

Mr Pasztohy noted that, even without the transport subsidies, traders would still make a profit, considering wheat is going for around EUR 150 per tonne in Spain and Portugal.

Hungary will deliver 41,000 tonnes of corn to drought-stricken Spain, 4,800 tonnes of corn to other EU countries and 33,000 tonnes of wheat to non-EU countries as the first shipments from its intervention stock.
MGR Archive 4.8.2005
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Region Type Price  
Russia Rapan $ 700
USA Jupiter Rice $630
USA Calrose #1 $830
USA Calrose #1 Paddy $480
EU Prices Baldo €660
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