• Saturday, 02 November 2024

Brussels offers €100m to nations under pressure from Ukrainian grain

Brussels offers €100m to nations under pressure from Ukrainian grain

European Commission President Ursula von der Leyen announced on Wednesday an additional €100 million ($110 million) to alleviate farmers placed under pressure by large grain imports from Ukraine.

 

Von der Leyen said the commission is to carry out an investigation and take preventative measures, in a letter sent to the leaders of Poland, Hungary, Romania and Slovakia - who all share a land border with Ukraine - as well as Bulgaria.

 

Under these measures imports to the EU of wheat, maize or sunflower seeds could be limited to products destined for transit to avoid a glut of agricultural products hitting markets in Ukraine's neighbouring countries.

 

The announcement comes after several central European countries banned agricultural imports from Ukraine in recent days over concerns about market distortion.

 

The European Union temporarily suspended remaining import tariffs for Ukraine in 2022 in a bid to allow one of the world's biggest grain producers continued access to global markets after Russia occupied Ukraine's Black Sea ports.

 

This led to large quantities of Ukrainian grains and other agricultural goods entering its neighbouring countries in the EU.

 

Wheat imports to Poland reached 500,000 tons in 2022, up from 2,800 tons in 2021, according to an EU official, while maize imports amounted to 1.84 million tons in 2022, compared to 5,800 tons in 2021.

 

Many goods from Ukraine are not traded further due to high logistical costs and low demand, EU officials said, decreasing prices in the bordering nations to the anger of local farmers and prompting import bans.

 

Brussels made already close to €60 million in agricultural aid available to affected EU countries in March.

 

Photo: EPA