Even the French would have backed out, but in the end they agreed on grain imports from Ukraine

Wheat

Published Mar 21, 2024

Tridge summary

The European Union is contemplating a compromise to regulate the import of Ukrainian grain through quotas, while potentially banning Russian grain, a move that has sparked concern among European farmers over falling prices. This decision, aimed at supporting Ukraine against Russian aggression, has led to protests, particularly in Poland. Additionally, the EU has reinstated punitive tariffs on Russian grain imports, doubling their price and likely reducing imports. However, the impact on overall grain prices may be minimal due to the relatively small proportion of grain imports in the EU, potentially causing difficulties for European farmers.

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Original content

In addition to allowing the import of Ukrainian grain, the goal may be to ban Russian grain, but in what direction will this move prices in Europe? Brussels wants to facilitate Ukraine's accession and support the country against Russian aggression, but agricultural imports worry European farmers, who often protest about it even in Poland, even though the country is one of Ukraine's staunchest supporters. Poland, with the support of France, wanted to limit Ukrainian agricultural exports, but the proposal was rejected in Brussels, instead the experts worked out a compromise solution by Wednesday morning. Ukrainian wheat continues to avoid restrictions, but other areas are being tightened in Brussels, where quotas were previously established to control Ukrainian agricultural exports. For the Ukrainian government, which is struggling with financial problems, this export is a very important source of income, but EU farmers find that competition is driving down prices. What does ...

Source: Hvg