GATT quota market remains “hot”

The surge in beef prices in Europe has caused the “secondary market” for trading GATT quota to heat up. According to a European importer, prices went from €0.20/kg six months ago to around €2/kg today. “The GATT quota market is still hot,” he said. This refers to quota allocations to be released to various agents starting July 1. The GATT quota allows for 58,100 tons per year of boneless beef (chilled or frozen), with reduced or zero tariffs from various origins.