The revised tariff, published on Oct. 10 in the Official Journal, is calculated according to Regulation (E.U.) No 642/2010, which explains that the import duty for the three cereals is based on the difference between a European reference price and the U.S. maize price.
“The tariff for maize, sorghum and rye has already been updated twice in the last two months due to a global record harvest expected for 2016-17 and, at the time, a particularly weak U.S. dollar,” the European Commission said. “It first went up to €5.16 per tonne on Aug. 8, and was followed by a second rise to €10.95 per tonne on Sept. 1.”
The import duties are now fixed from Oct. 10, and will apply until a new figure is required and calculated by the automatic mechanism in place.