EU steps up monitoring of raw materials impacted by supply disruptions
The European Commission plans to gather monthly data on levels of stocks in the EU of cereals, oilseeds and rice and publish the notifications to ensure market transparency.
The European Commission plans to gather monthly data on levels of stocks in the EU of cereals, oilseeds and rice. This is a direct follow-up of the communication on “safeguarding food security and reinforcing the resilience of food systems” presented on March 23, 2022. The aim is to better monitor stock levels in the current environment of high prices and perceived uncertainty about supplies.
Having up-to-date information on levels of stocks of the main commodities of cereals (like wheat, maize or barley), oilseeds (like rapeseed, sunflower, soya bean), and rice is essential to decide on relevant measures to prevent and mitigate market disruptions. Member states will have to notify the European Commission on the level of stocks of cereals, oilseeds, rice and certified seeds of these products held by producers, wholesalers and operators. The notifications are expected on a monthly basis, to be provided by the end of each month with respect to the preceding month. The implementing regulation enters into force today and the first notifications are expected at the end of July, to allow the necessary time for member states to set up the required monitoring and reporting processes.
The European Commission will publish the notifications to ensure market transparency and give a timely and accurate picture of the availability of essential commodities for food and feed.
In the context of its increased monitoring of agricultural markets impacted by Russia’s invasion of Ukraine, the European Commission also launched a dedicated dashboard presenting up-to-date, detailed statistics on prices, production, and trade of milling wheat, maize, barley, rapeseed, sunflower oil, and soya beans at EU and global level. Expected future prices are also included, as well as energy input prices and links to other useful sources. This provides market operators with the most relevant information in one place.