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Ministry raises reference prices for 2010 crop

The government has set "reference prices" -- the price at which farmers may apply for compensation -- for both this year's wheat and maize crop at HUF 38,000 a tonne, the Rural Development Ministry said on its website.

The reference price for wheat is HUF 8,000 higher and that for maize is HUF 13,000 more than the respective ones for the 2009 harvest.

The reference price for a tonne of winter barley was raised to HUF 27,500 from HUF 25,000 and that for rapeseed to HUF 85,000 from HUF 75,000.

Wheat contracts were going for HUF 58,300 per tonne on the Budapest Commodities Exchange on Monday. The bourse price was HUF 54,000 for wheat for feed, HUF 49,300 for maize for feed , HUF 47,000 for barley and HUF 102,500 for rapeseed.

The reference price for soy rose to HUF 128,000 per tonne from HUF 45,000 in 2009, the ministry's website shows.

The sunflower seed reference price was set at HUF 85,000 per tonne, up from HUF 55,000 a year earlier.

Grapes for wine were given a reference price of HUF 67 per kilogramme, up from HUF 49 a year earlier. (MTI-Econews)