European Union officials have said that, despite early fears and challenging growing seasons in some regions, the bloc's cereal harvest is within a normal range.  The EU cereal harvest, the world's largest, is currently forecast to weigh in at 279 million tonnes.

Although the figure is 2 per cent below the bloc's five year average, it is better than expected as major producers Spain and the UK suffered the effects of harsh weather this year. Many parts of Spain are in drought and forest fires have ravaged parts of the countryside. In some places budget cuts have meant fire fighters are unable to tackle blazes due to a lack of resources or staff.

The UK saw the wettest spring and summer on record, giving rise to outbreaks of disease and pests. Harvest has been delayed, but is now over 50 per cent complete, with yields reportedly variable across different regions and soil types. However, concerns persist over quality, given the disease pressures on cereals this year.

France and Germany suffered under similar conditions to the UK at the start of the season, but following a wet June the weather improved in time to avoid the worst effects for France's cereal crop, which was harvested on time, and caused only slight concerns in parts of Germany.

Although in the UK, harvest has been as slow as in 2008, the last truly bad year, overall the bloc's cereal crop is expected to exceed 2008 levels by 25mt. The news means the EU is set to remain a net exporter this year.

The cereals data was unveiled by the European Commission on Thursday (30th August). Upon unveiling the figures, Agriculture Commissioner Dacian Ciolos spoke of the implications of Europe’s agricultural policy.

Mr Ciolos said, "The recent developments on the agricultural and food markets have demonstrated once again the need for a strong Common Agricultural Policy. Over the past weeks, the drought in several regions of the world has led to dramatic price increases for certain commodities, mainly maize and soya, which risk destabilising certain sectors of the European agriculture.

"In the context of climate change and increasing food demand, it is crucial to valorise in a sustainable way all the diversity of agricultural potential in the EU. This excessive volatility of markets shows clearly that world agriculture requires investments, public management policies and predictability."

Commission data showed prices are likely to remain high and extremely volatile, despite the fact that the world grain stocks – consumption ratio remains at a level comparable to 2011, having contracted just 1 per cent.

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