BR100 Increased By (0.01%)
BR30 Increased By (0.53%)
KSE100 Increased By (0.28%)
KSE30 Increased By (0.29%)
AGHA 6.38 Increased By ▲ 0.06 (0.95%)
BECO 4.35 Increased By ▲ 0.08 (1.87%)
BML 62.55 Increased By ▲ 0.10 (0.16%)
BOP 31.39 Increased By ▲ 0.16 (0.51%)
CNERGY 11.73 Increased By ▲ 0.14 (1.21%)
CSIL 5.91 Increased By ▲ 0.19 (3.32%)
FCCL 61.71 Increased By ▲ 0.17 (0.28%)
FFL 14.79 Decreased By ▼ -0.23 (-1.53%)
FNEL 1.24 Increased By ▲ 0.01 (0.81%)
KEL 6.32 Increased By ▲ 0.06 (0.96%)
KOSM 5.90 Increased By ▲ 0.34 (6.12%)
LOTCHEM 24.69 Increased By ▲ 0.01 (0.04%)
MLCF 103.93 Decreased By ▼ -0.15 (-0.14%)
NBP 173.32 Decreased By ▼ -1.96 (-1.12%)
NCPL 51.83 Decreased By ▼ -0.94 (-1.78%)
NPL 54.03 Decreased By ▼ -0.09 (-0.17%)
OGDC 315.87 Increased By ▲ 2.48 (0.79%)
PACE 9.26 Increased By ▲ 0.06 (0.65%)
PAEL 35.58 Decreased By ▼ -0.22 (-0.61%)
PIBTL 13.66 Increased By ▲ 0.19 (1.41%)
PPL 226.07 Increased By ▲ 4.26 (1.92%)
PRL 80.28 Increased By ▲ 1.20 (1.52%)
PTC 46.64 Decreased By ▼ -0.21 (-0.45%)
SSGC 23.82 Decreased By ▼ -0.05 (-0.21%)
TBL 9.24 Decreased By ▼ -0.07 (-0.75%)
TELE 7.55 Increased By ▲ 0.16 (2.17%)
TPL 24.54 Decreased By ▼ -0.57 (-2.27%)
TPLP 12.99 Increased By ▲ 0.48 (3.84%)
TREET 25.98 Decreased By ▼ -0.27 (-1.03%)
TRG 53.33 Decreased By ▼ -0.11 (-0.21%)
World

EU offers more cash to appease Ukraine grain concerns

Published Updated
By

BRUSSELS: European Commission president Ursula von der Leyen has proposed an extra 100 million euros of support for EU farmers to ease a standoff over Ukrainian grain, a spokeswoman said Wednesday.

Brussels is scrambling to find a solution after Poland, Hungary and Slovakia banned imports of Ukrainian grain and other food products, blaming them for driving down prices.

Ukraine’s grain exports have been transiting through the European Union to other countries since the war-torn nation’s traditional Black Sea routes were blocked by Russia’s invasion.

Polish government bans grain and food imports from Ukraine

But, because of logistical issues, the grain had been piling up and pushing prices lower, triggering protests from local farmers, who also raised food safety concerns.

Warsaw struck a deal with Kyiv on Tuesday to allow Ukrainian grain to transit again through Poland.

Polish Agriculture Minister Robert Telus said “mechanisms” had been put in place to make sure no grain would remain in his country.

A spokeswoman for von der Leyen said the EU chief had put forward a new 100 million euro ($110 million) package for the hardest hit farmers in a letter to five eastern European governments.

That money would come on top of 56 million euro package that was provided for farmers in Poland, Romania and Bulgaria last month.

Von der Leyen also proposed taking “preventive measures under the applicable trade rules” in regard to certain grains such as sunflower and rapeseed, spokeswoman Dana Spinant said.

Brussels has previously insisted that any unilateral bans on the Ukrainian exports were “not acceptable” and noted that trade policy is solely an EU responsibility.

EU trade commissioner Valdis Dombrovskis is to meet later on Wednesday with representatives from Poland, Slovakia, Hungary, Romania, Bulgaria and Ukraine to discuss the proposals.

The EU standoff has come as tensions over a deal with Russia to allow grain out of Ukraine via the Black Sea has again fuelled fears for exports.

Comments

Comments are closed for this article.