TRADE PROPOSES NEW EC GRAIN INTERVENTION RULES
The European Community (EC) cereals
trade lobby organisation Coceral said it has written to EC Farm
Commissioner Frans Andriessen to propose a new system for sales
into intervention, which it claims could save the EC budget
money.
    It proposes that applications for intervention be made
through a certificate valid for execution three months later.
If during the three months the trader found a market elsewhere,
he could buy back the certificate on payment of a one pct
premium.
    Coceral argues that this would restore the original
function of intervention as a safety net and would end the
present situation in which produce is often sold into
intervention as a precaution.
 Reuter
