Hungary to sue EU over corn intervention price

Issues

Hungary's government is filing suit over a European Union decision on the intervention price for corn, government spokeswoman Emese Danks said in a statement yesterday.

The intervention price is used by governments to buy produce from farmers at a minimum rate in case of market disturbances. The EU limits the use of such intervention to ensure farmers from all countries are competitive. Hungary claims the EU discriminated against Hungarian corn farmers when setting the requirements to use such a price on October 18. “The ruling changed quality requirement for corn intervention in such a way that it causes substantial and unjustified competitive disadvantage to Hungarian farmers,” the government's statement said. Prime Minister Ferenc Gyurcsány's government will take the matter to the European Court of First Instance, the EU's second- highest court in Luxembourg, according to the e-mailed statement. Hungary will file the lawsuit shortly, the statement said. (Bloomberg)

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.

Support the BBJ

Polls

Only 10% on Hungarians Wish for Long Life

Politics Polls | Jul 27, 2023, 11:15

Gov't Supporters Agree With Raising Teacher Wages

Politics Polls | May 25, 2023, 08:40

Most Believe Hungary Headed in Wrong Direction

Politics Polls | Dec 16, 2022, 09:40