Hungary Lifts Mandatory Reporting for Grain Exports

Trade

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Hungary's government has decided to end a reporting requirement for grain exports introduced in March 2022 as the war in Ukraine raised concerns over global food supply, Agriculture Minister István Nagy said in a statement on Thursday, according to a report by state news wire MTI.

The government is rolling back the measure as Hungary's food supply is secure and domestic output is enough to meet local demand, Nagy said.

He added that the government had not intervened in the grain market and exports were uninterrupted, reaching an estimated 2 million tonnes for wheat and 2 million tonnes for maize last year.

He also noted that some grain traders had abused their market positions and used the reporting requirement as an excuse to coerce farmers.

The Agriculture Ministry is continuously monitoring the grain market and will take any steps necessary in the interest of its stabilization, he added.

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