The Wall Street Journal (WSJ) reports on the protests of European farmers against cheap agricultural products from Ukraine, which flooded the EU markets.
In order to support Ukraine the European Union has lifted quotas and tariffs on its agricultural products, allowing the export of grain to its territory. As a result, says WSJ, a flood of much cheaper Ukrainian grain and poultry meat has led to a general collapse in prices, making it unprofitable for European farmers to operate.
According to food data provider Argus, Ukrainian wheat and corn this month were traded on the European market at about $272 and $251 per metric ton. European wheat was priced at $324 and maize at $307.
“I am all for helping Ukraine, but I think the EU has opened a Pandora’s box,” said Jan Benjasz, managing director of a farming cooperative in the village of Loka in southeastern Poland.
Representatives of the EU agricultural sector have reportedly drawn up a plan according to which Brussels will be able to regulate the market distribution of Ukrainian grain to prevent its free sale in Europe.
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