E.U. lowers maize, sorghum and rye import duties

11.10.2017

Due to a stronger U.S. dollar, the European Commission lowered the import duty for maize, sorghum and rye to €5.61 per tonne as of Oct. 10. Triggered by an automatic mechanism that calculates import duties, the updated tariff avoids putting European farmers at a disadvantage in the current market conditions.

The revised tariff, published on Oct. 10 in the Official Journal, is calculated according to Regulation (E.U.) No 642/2010, which explains that the import duty for the three cereals is based on the difference between a European reference price and the U.S. maize price.

“The tariff for maize, sorghum and rye has already been updated twice in the last two months due to a global record harvest expected for 2016-17 and, at the time, a particularly weak U.S. dollar,” the European Commission said. “It first went up to €5.16 per tonne on Aug. 8, and was followed by a second rise to €10.95 per tonne on Sept. 1.”

The import duties are now fixed from Oct. 10, and will apply until a new figure is required and calculated by the automatic mechanism in place.


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