EU to Cut Beef-Export Subsidies by 33% on Elevated Prices
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The European Union will cut export subsidies for beef by 33 percent because of elevated prices and a “tight” market.
Export refunds for beef carcasses will drop to 163 euros ($213) a metric ton from 244 euros, the European Commission, the EU’s executive arm, wrote in an e-mailed statement today. Rates for deboned, fresh and other cuts will be reduced accordingly, it wrote.