Animal feed manufacturers have been boosted by the news that the EU is to relax its stringent import restrictions on commodities.
In response to the escalating cost of wheat and barley, the European Commission (EC) has proposed suspending import duty on the two crops, the Financial Times reports.
This would allow feed manufacturers to obtain cheaper raw materials and ease their financial burden, while the EC also expects it will help to calm domestic markets.
The EC told the newspaper that the decision to reduce import duty was made "to help facilitate feed cereals imports from outside the EU and so reduce tensions on the European markets".
In addition, the tariff on sugar beet will be temporarily lowered under the EC's proposals.
However, it was also announced this week that the EC has postponed discussions on the use of genetically modified crops in animal feed, with talks not set to resume until the end of the month.
Typical Guttridge equipment used in the animal feed manufacturing industry includes:
