No EU aid for Hungary to alleviate disturbances in the cereals market, gov't in protest

István Nagy, the Minister of Agriculture, told news site Infostart that the solidarity corridors initiated by the EU to facilitate the delivery of grain stuck in Ukraine to Africa and the Middle East have not worked as intended. As a result, member states near the Ukrainian border have been flooded with Ukrainian grain, causing very serious internal market disruption.

"The Commission claims that grain arrivals from Ukraine are not having a depressing effect on grain prices, but while the Rotterdam exchange price is hovering around €300/tonne, in Hungary it has fallen to €217. This cannot be ignored, nor can the serious professional misconception that it was not the arrival of Ukrainian grain that caused this big price drop, when in fact it was" said István Nagy.

Cover photo: Ákos Stiller / Portfolio