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To: From_Verbier who wrote (10985)3/8/1999 11:57:00 AM
From: TsioKawe  Read Replies (1) of 40688
 
EU Cuts Import Taxes on High Quality Wheat to Maintain Trade

Brussels, March 8 (Bloomberg) -- The European Union cut
import taxes on high quality wheat and wheat seed by as much as
11 percent to maintain a constant flow of breadmaking grain and
avert claims that Europe is unfairly protecting its farmers.
The European Commission cut import duties on bread-making
wheat imported from Mediterranean, Black Sea and Baltic ports to
54.72 euros ($59.64) a ton from 60.36 euros and to 44.72 euros a
ton on imports from other ports, from 50.36 euros, according to
the Official Journal, the record of EU decisions.
The commission, the EU's executive branch, monitors grain
prices around the world and changes import duties if it feels EU
grain producers are being undercut by imports or that its taxes
unfairly restrain imports.
The commission said duties may be reduced by 3 euros on
grains shipped by way of the Atlantic Ocean or the Suez Canal if
the grain is unloaded at a Mediterranean port. The duty falls by
2 euros if it is unloaded in Ireland, the U.K., Denmark, Sweden,
Finland or Atlantic ports in Spain and Portugal.
The EU is under pressure from countries such as the U.S.
and Australia to halt grain export subsidies, and is also facing
demands to reduce import taxes on farm commodities when the next
round of world farm trade talks begin later this year.
The following table shows the new duty rates compared with
the previous levels (in euros per ton).

From Mediterranean, Black Sea From other ports
and Baltic Sea ports

New rate Old rate New rate Old rate
Durum wheat
-High quality 55.72 55.72 45.72 45.72
-Medium quality 65.72 65.72 55.72 55.72
Wheat seed 54.72 60.36 44.72 50.36
Wheat
-High quality 54.72 60.36 44.72 50.36
-Medium quality 87.59 87.59 77.59 77.59
-Low quality 107.63 107.63 97.63 97.63
Rye 95.20 95.20 85.20 85.20
Barley seed 95.20 95.20 85.20 85.20
Barley 95.20 95.20 85.20 85.20
Corn seed 103.94 103.94 93.94 93.94
Corn 103.94 103.94 93.94 93.94
Grain sorghum 95.20 95.20 85.20 85.20

10:32:08 03/08/1999
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