Prospects for the EU rice market
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CTA. 2003. Prospects for the EU rice market. Agritrade, August 2003. CTA, Wageningen, The Netherlands.
Permanent link to this item: http://hdl.handle.net/10568/52499
The European Commission released its review of the 'Prospects for Agricultural...
The European Commission released its review of the 'Prospects for Agricultural Markets in the European Union 2003-2010' in June 2003. In the rice sector the medium-term prospects are seen as poor, with a profound market imbalance existing. By 2006 the rice surplus situation is expected to be unsustainable, with stock levels reaching 4.1 million tonnes by 2010 (up from 0.4 million tonnes in 2002). Comment: These projections do not take into account the impact of the reform measures agreed on June 26th 2003. Indeed, the dire prospects for the EU rice sector account for the willingness of EU Agricultural ministers to agree to a 50% reduction in the intervention price. This should ease the market situation considerably by making the EU rice market far less attractive to developing country exporters including those in the ACP.