On-the-Ground Updates

EU cancels import tariffs on the USD corn, sorghum, and rye

Besim Donmez
Published Aug 27, 2020
The EU has nulled the import tariffs on corn, sorghum, and rye right after the corn production output was declared to be lower with price increases in effect.
The import tariff on the corn was earlier declared to be at €5,27 per ton at the end of April, a decision driven by declining corn prices in the US. The reason behind plummeting prices was due to the collapse of demand for bioethanol in the US.
Currently, corn prices have increased once again due to a variety of reasons such as damages caused by the recent hurricane, droughts, and heatwaves.
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