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AMIS Market Monitor

last release: 7 March 2024

Policy Developments

  • On 8 February, India announced it was revising the limits on the maximum permitted levels of wheat stock that can be maintained by traders and wholesalers, big chain retailers, and processors (see AMIS Market Monitor, February 2024) to prevent hoarding. For traders and wholesalers, the new wheat stock limit is 500 metric tonnes - half the previous level. While the stock limit for big chain retailers remains unchanged at five metric tonnes per retail outlet, stock maintained at their depot is now limited to 500 metric tonnes (i.e. half the previously allowed amount). Processors can keep stocks equal to 60 percent of their monthly installed capacity multiplied by the months remaining until April 2024 (previously 70 percent of monthly installed capacity multiplied by the remaining months of 2023-24).
  • On 8 February, the European Commission indicated it would not raise objections to Romania applying state aid to support its cereal producers. Common winter wheat and durum winter wheat were among products covered by the scheme. The programme, with an estimated budget of RON 1.2 billion (USD 267 million) and set to expire on 30 June 2024, seeks to address the economic impacts of the war in Ukraine on local producers. Over 162 000 beneficiaries are expected to be covered by the programme.
  • On 20 February, the Ministry of Agriculture in Kazakhstan published an updated list of licensed elevators, grain processors, and poultry enterprises that are allowed to import wheat, as an exception to a ban on road and rail imports that was initially introduced in April 2023 for a six-month period, and subsequently extended for the same period from 11 October 2023. (See AMIS Market Monitor, October 2023).