The EU Commission still wants to know in more detail where and how much of various agricultural commodities are available.
In order to obtain more up-to-date information on the most important agricultural markets due to the war in Ukraine, the EU Commission now requires member states to report monthly on the level of stocks of certain products.
As the Brussels-based authority announced last Friday, EU countries will in future have to report on the level of stocks of cereal products, oilseeds and certified seeds. Stocks held by producers, wholesalers and market participants must be reported.
Keeping an eye on availability of raw materials
According to the Commission, the reports are to be made by the end of each month for the previous month. Since the corresponding implementing regulation entered into force on Friday, the first reports will be made by the end of July at the latest. The period until then should be sufficient to set up the necessary monitoring and reporting procedures in the member states, according to the Commission.
Once received and verified, the Commission says it will publish the reports from capitals to provide greater market transparency and a timely and accurate picture of the availability of key raw materials for food and feed in the Community. Depending on the market situation, appropriate measures to prevent and mitigate market disruptions could then be decided, if necessary.
Statistics to become more detailed
As part of its enhanced monitoring of agricultural markets, the Brussels-based agency has also set up a dedicated overview with up-to-date detailed statistics on milling wheat, corn, barley, rapeseed, sunflower oil and soybean prices, production and trade at EU and global levels. Expected future prices are also included, as are prices for energy inputs and "links to other useful sources." This is intended to give market participants access to key information in a single location. AgE