Hungary to Tighten Oversight of Ukrainian Grain Imports
Photo by Nikolett Emmert / Shutterstock.com
Agriculture Minister István Nagy is initiating the introduction of mandatory reporting of lorry deliveries of grain and oilseed from Ukraine, according to a report by state news wire MTI.
Requiring the shipments to be registered in the Ekáer electronic oversight system will give authorities a more accurate picture of the volume of grain and oilseed imports from Ukraine, the ministry said. It will also allow punitive measures or seizures of deliveries for non-compliance, it added.
The ministry noted that Hungary is dealing with an "unprecedented" volume of grain and oilseed imports from Ukraine amid a European Union exemption from customs duties and import quotas introduced to expedite exports to markets in Africa and the Middle East.
The European Commission has rejected a request for a full reversal of the measure, so authorities are now calling for a partial reintroduction of customs duties on overland deliveries of grain and oilseed from Ukraine, at least temporarily, the ministry said.
Hungary is strengthening further oversight of imports to ensure Ukrainian grain and oilseed designated for delivery to countries outside of the EU leaves the country, it added.
Nagy also pointed to a large volume of poultry, eggs, and honey entering European markets from Ukraine, "squeezing out" Hungarian products from their traditional markets and driving farmgate prices lower.
Policymakers Cut Central Bank Base Rate by 50 bp to 7.75%
Bulgaria's Household Income, Spending Rise 20% in 2023
Spar Magyarország Revenue Climbs Close to 16% in 2023
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
