E.E.C. has too much beef
NZPA-Reuter Brussels Stocks of unwanted beef flooding into European Economic Community storehouses had reached new crisis levels, underlining that the sector needed urgent reform, officials said yesterday. E.E.C. Ministers were told at the start of a twoday meeting that over 11,000 tonnes of beef a week were going into Community cold-stores at high guaranteed prices, further straining the group’s rickety finances.
A European Commission spokesman said that more than 220,000 tonnes of beef had been bought in since January 1, more than 50 per cent up on the same period last year and close to a budgeted ceiling of 300,000 for the entire year. The sales took place during high exports and pushed up total stocks to 750,000 tonnes. Storage costs alone drain the E.E.C.’s coffers by SUS24O million a year, he said.
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Press, 16 July 1986, Page 10
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138E.E.C. has too much beef Press, 16 July 1986, Page 10
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