The European Union suspended export returns for wheat exports

Introduction: on Friday, the European Commission will not issue refunds for wheat exports in the near future, according to sources close to the European Union, which has already sold a large amount of wheat to the world market, in the hope of reducing wheat exports 79i on Thursday, the European grain Regulatory Commission issued a return of up to 0.01 euros per ton for 1.346 million wheat exports, the volume of which is one of the largest weekly bidding sales in more than a decade However, people close to the Commission said that the export policy would be changed from now on At least in the near future, the European Commission will not provide export returns for wheat exports, which means that the issuance of export licenses is zero and traders will not get any subsidies 'yesterday we exported a lot of wheat and got a lot of subsidies,' 79i sources told Reuters But now we can't do that anymore Wheat exports will return to zero return, and this will continue for quite a long time The next meeting of the 79i EU grain group will be held on August 22 after the holiday On Thursday, European Union wheat exports hit a 15 year high and traders were returned, according to people familiar with the matter This wheat export is a response to the massive import of wheat at the beginning of 2002 / 03 'we are importing four times as much wheat as we did in the same period last year, so we have no choice but to export a little (this week), because our generosity is limited,' the source said 79i from July 1 to August 6, the EU imported 600000 tons of wheat, compared with 89000 tons in 2001 / 02 On Thursday, the European grain Commission group also decided to implement a negative compensation value, thus eliminating the monthly appreciation of export licenses, which means that the returns received on Thursday will not increase in the next four months The person familiar with the matter said that the refund is now 0.01 euros per ton, which is still worth 0.01 euros in December If there is no negative value, the return will increase to EUR 3.73 per ton at the end of the year.