EU: European Parliament and Commission strike deal over food export refunds

A compromise has been struck between the European Parliament and the European Commission over its proposals to slash export refunds to the EU's processed food and drink industry and offset the cuts with duty-free imports of ingredients bought at world market prices.MEPs had been pressing for refunds to be retained for EU sugar and dairy products, but the Commission refused. The two sides have now agreed that the refunds will be scrapped, but that their removal will be temporary and a close watch will be kept on the EU sugar and dairy industries, in case they lose their profitability.