Shortage means higher prices for Irish grain

IRISH grain prices rose last week as industry analysts warned that the EU is 10 million tonnes short of grain.

French analyst Strategie Grains called for greater use of grain substitutes, increased grain imports and a brake on grain exports, in addition to the resale of intervention grain on the EU market, which has already commenced.

They said a brake on exports, in the shape of an EU tax, could prove unnecessary, if the intervention resale scheme works efficiently, and if US wheat prices remain lower than European prices.