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EU sells 492,968 tons of grains from intervention stockpiles

EU sells 492,968 tons of grains the results of yesterday's meeting of the European Union's market management committee for wheat, barley and rye.

The panel manages EU prices by adding to and selling from stockpiles held in the 27 member countries. The committee can also grant export subsidies. Delegates at the meeting in Brussels agreed to sell 492,968 metric tons of grains, 419,728 tons of which is for sale within the EU. The EU posted the figures on an internet bulletin board yesterday. Hungary sells from the stockpiles onto the EU market 34,522 metric tons soft wheat for a price €135.50 per ton, and 197,602 metric tons corn (maize) for €114.86 per ton. Hungarian sales from the stockpiles onto the world market were 9,106 tons soft wheat for a price €145 per ton. (Bloomberg)