New Rules Regarding Transparency in EU Commodity’s Market

Rice

Irene Fantauzzi

Published May 23, 2022

The Member States must report to the European Commission the level of stocks of grains, oilseeds, rice, and certified seeds of these products, held by producers, wholesalers, and operators. The report is expected to provide monthly at the end of each month for the previous month. Regulation(EU) 2022/791 entered into force last Friday and the first notifications are expected at the end of July so that the Member States have the necessary time to establish the necessary monitoring and notification processes. The European Commission will publish the notifications to ensure market transparency and provide a timely and accurate picture of the availability of essential food and feed commodities.
In addition, for better monitoring of the agricultural markets affected by the Russian-Ukraine conflict, the European Commission has launched a dedicated dashboard that presents detailed and updated statistics on prices, production, and trade of milling wheat, corn, barley, rapeseed, sunflower, and soybean oil at EU and global level, as can be seen in the attached graph. Expected future prices are also included, as are energy input prices and links to other useful sources. This provides market operators with the most relevant information in one place.
Ukraine accounts for 10% of the world wheat market, 13% of the barley market, 15% of the corn market and is the largest player in the sunflower oil market (more than 50% of world trade). Food availability is not at stake in the EU, as the continent is largely self-sufficient for many agricultural products. The immediate impact of the Russian invasion of Ukraine lies rather in the increased costs along the food supply chain, the disruption of trade flows to and from Ukraine and Russia, as well as its impacts on food security. world.