European Agriculture Commissioner Phil Hogan has announced the establishment of new observatories to monitor grain and sugar prices before the next harvest.
Barry Marshall is pictured harvesting spring barley outside Belgooly, Co Cork last year. Photo: Donal O' Leary
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Speaking at the Paris agricultural show last week, Hogan said: “I have initiated the process of creating two new market observatories, for crops (cereals, oilseeds, protein crops) and for sugar. Both should be in place before summer 2017.”
He added that the new bodies would be modelled on those already in place for milk and meat, and “guarantee market transparency and market analysis.”
The existing observatories publish free weekly statistics on prices, international trade, EU support measures such as intervention and private storage as well as regular market reports and forecasts.
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The inclusion of crops in the model stems from the grain price crash observed in recent years and the volatility risk associated with the abolition of EU sugar quotas this year.
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Title: New EU crops market observatories by summer
European Agriculture Commissioner Phil Hogan has announced the establishment of new observatories to monitor grain and sugar prices before the next harvest.
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Speaking at the Paris agricultural show last week, Hogan said: “I have initiated the process of creating two new market observatories, for crops (cereals, oilseeds, protein crops) and for sugar. Both should be in place before summer 2017.”
He added that the new bodies would be modelled on those already in place for milk and meat, and “guarantee market transparency and market analysis.”
The existing observatories publish free weekly statistics on prices, international trade, EU support measures such as intervention and private storage as well as regular market reports and forecasts.
The inclusion of crops in the model stems from the grain price crash observed in recent years and the volatility risk associated with the abolition of EU sugar quotas this year.
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