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European Commission to monitor EU cereal stocks amid food price hikes

The European Commission is to monitor stocks of cereals, oilseeds and rice in the European Union in a new reporting system.

Brussels, 20 May 2022 (dpa/MIA) – The European Commission is to monitor stocks of cereals, oilseeds and rice in the European Union in a new reporting system.

EU member states are to submit monthly reports to the EU executive branch on stock levels held by producers and wholesalers amid a major squeeze on commodity prices on global markets.

EU farmers struggling with higher costs for fertilizer, feed and fuel due to the Ukraine war could also get direct lump sum payments from EU member states under new commission proposals.

Under the plans, farmers could receive up to €15,000 ($15,800). Related small businesses could get up to €100,000 directly from EU rural development funding for 2021-2022.

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