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AMIS Market Monitor

last release: Sep 2017

Policy Developments

  • On 17 July, China's Ministry of Agriculture approved two new GMO maize varieties (insect-resistant and glyphosate-resistant) for import during a three-year period, which brings the total number of China's GMO approvals to 18 (including four maize crops).
  • On 5 July, with a view to reducing import dependency while supporting the expansion of maize cultivation in Egypt, the Ministry of Agriculture announced that it will almost double the intervention prices during the 2017-18 fiscal year beginning in July, from EGP 1 700 per tonne (USD 95.24 per tonne) to EGP 3 400 per tonne (USD 190.48 per tonne).
  • On 5 July, following the prior delivery of a favourable scientific opinion by the European Food Safety Authority, the EU Commission authorized for a 10-year period three genetically-modified organisms for food and feed use, among which Monsanto’s GM maize MON 810 is also allowed for cultivation within the EU.
  • On 8 August, the European Commission re-introduced an import duty on maize of EUR 5.16 (USD 6.13 per tonne) (Commission Regulation 2017/1434), reversing the duty-free conditions in place since November 2014. Sorghum and rye are subject to the same policy change. Access conditions under EU's duty-free tariff quotas (i.e., 450 000 tonnes sourced from Ukraine, and 280 000 tonnes sourced from other supplying countries) are not affected. Pursuant to EU Regulation 642/2010, the calculation of import duties in the cereals sector is automatically triggered based on world reference prices; and on the EU intervention price. 
  • On 31 August, the European Commission announced a raise in maize duty imports from Euro 5.16 per tonne (USD 6.13 per tonne) to Euro 10.95 per tonne (USD 13.10 per tonne), effective the 1st of September 2017.