EC COMMISSION AUTHORISED TO BUY MAIZE IN JUNE
The European Commission was authorised
to buy up to one mln tonnes of maize into intervention stores
in the second half of June, although sales into intervention
normally end on April 30, Commission sources said.
    They said approval was given by the EC's Cereals Management
Committee because of the possible disturbance of the market due
to heavy imports of maize under the agreement between the EC
and the United States.
    The agreement guarantees access to the Spanish market for
two mln tonnes of non-EC maize a year for the next four years.
    The sources said the intervention price for the maize would
be 201.49 Ecus a tonne.
    They said at this price it seemed unlikely that the full
    They added the decision is also designed to prevent massive
offers of maize for intervention just ahead of the normal April
30 deadline, which could be caused by speculation about the
implementation of the accord with the United States.
 Reuter
