Hungary Lifts Mandatory Reporting for Grain Exports
Photo by Nikolett Emmert / Shutterstock.com
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.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Baranya County Police Bust Phishing Gang
Spago Budapest Offering Unique Sunday Brunch Experience
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.
