World Grain - August 2014 - 17

newsreview
Ungashick joins World Grain sales team
KANSAS CITY, MISSOURI, U.S. - Adam Ungashick has joined
World Grain magazine as its new sales representative, effective Aug.
1. His responsibilities include growing new business with prospective customers and working to serve existing customers' needs.
Ungashick joined World Grain's parent company, Sosland Publishing, at the beginning of 2014 as the customer service representative for esource, an online buyer's guide service for the baking industry, where he quickly grew the sales revenue.
"The World Grain staff is excited to have Adam join our team,"
said World Grain Publisher Dan Flavin. "Adam's background in the

ingredient handling business gives him a good
foundation for success in the milling and grain
handling industries."
Prior to working at Sosland, Ungashick
worked at Shick USA for five years and also previously worked as a marketing representative for
Southern Tide Clothing. He graduated from the
University of Missouri-Columbia with a Bachelor of Science in Finance from the Trulaske
College of Business.

Ungashick

E.U. sets import duty for first time in nearly four years
BRUSSELS, BELGIUM - The European Commission announced
on July 17 that the import duty on maize, sorghum and rye is to be set
at €5.32 per tonne. The decision is based on the basic Regulation and
comes in response to the situation on the world markets for maize
and the resulting low prices. Moreover, maize, sorghum and rye are
not subject to export refunds.
The duty for corn has been at zero since Aug. 17, 2010. It has also
been at zero for sorghum and rye since Oct. 19, 2010.
Following a forecast of world maize production in 2014 estimated
by the International Grains Council at as much as 963 million tonnes
(the second highest after last year's record level), the carry-over
of world stocks of maize at the end of the 2014-15 marketing year
should increase from 13 million tonnes to 180 million tonnes, the
highest level in five years, including in the main exporting countries
and, in particular, in the U.S.
As a result of this forecast of a bumper harvest of maize in 2014
worldwide, but particularly in the U.S., world market prices for
maize fell sharply and, as of July 1, stood at $203 per tonne FOB
(free on board) U.S. Gulf, a price not seen since August 2010. On
July 1, 2013, the quotation was $304 per tonne.
The E.U. has bound duties for all cereals set under the GATT

agreement. However, for some cereals, the rates applied are different. The system originates in the Blair House Agreement between
the U.S. and the E.U. and involves setting tariffs on the basis of individual world reference prices for specific cereal types. The mechanism is triggered automatically. The duty is fixed on the basis of
the difference between the effective E.U. intervention price for cereals multiplied by 1.55 and a representative cif (i.e. cost, insurance
and freight) import price for these cereals at the port of Rotterdam.
Since July 1, 2011 (2011-12 marketing year), the representative cif
import price for sorghum and rye has been equal to the representative
cif import price for maize. Since that date, therefore, the import duty
for sorghum and rye has been equal to the import duty for maize.
The individual tariff quotas are not affected by the measure. A
duty-free quota of 277,988 tonnes of maize, split into two equal
tranches open to all non-E.U. countries, is opened each year on Jan.
1. By July 4, the quota had been taken up in full.
In the cereal sector, supplementing the political and financial support that the E.U. has decided to provide to Ukraine, a Commission
Regulation was adopted on April 8, opening tariff quotas for grain imports from Ukraine. The regulation will open the community market
until Oct. 31 for 400,000 tonnes of corn subject to zero import duty.

For more information, see Page 106.

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World Grain - August 2014

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