Gov't extends mandatory reporting for grain exports

Trade

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Hungary's government has extended a measure mandating reporting of grain exports by two months until the middle of July, Agriculture Minister István Nagy said on Friday, according to a report by state news wire MTI.

Nagy said the measure, which applies to grain, oilseed, and protein crops, had achieved its goal of preventing a big increase in exports amid higher global demand, ensuring domestic supply.

The war in Ukraine continues to result in "serious uncertainty" for farm products on global markets, warranting continued close monitoring of domestic price movements, he added.

He said controls are also necessary to ensure sufficient volumes of base materials for the food and feed industries. The state will exercise its pre-emption rights, if necessary, to ensure sufficient grain inventories, he added.

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