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Global market prices for grain and other cereals are on the increase. (Photo: EUobserver)

EU drops tariffs on cereals to tackle rising food prices

The European Union has agreed to temporarily suspend import tariffs on cereals in an effort to counter rising food prices.

On Tuesday (27 November), EU agriculture ministers unanimously supported the European Commission's proposal to remove tariffs put in place on all cereal imports – except oats - from December until 30 June 2008.

The decision comes in response to dwindling cereals supplies, caused by a bad harvest year and tight conditions on the world market, which are increasi...

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