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HomeEuropeAdditional €430 Million of EU Funds to Support Agri Sector

Additional €430 Million of EU Funds to Support Agri Sector

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The EU Commission is proposing to mobilise additional EU funding for farmers across the Union impacted by adverse climatic events, high input costs, and diverse market and trade related issues.

The new support package will consist of €330 million for 22 Member States. In addition, approval has been given for a €100 million support package for farmers in Bulgaria, Hungary, Poland, Romania and Slovakia, presented to the Commission in May.

The agricultural sector has been under pressure since the Covid-19 pandemic and the surge in prices of energy and agricultural inputs, like fertilisers, following the Russian aggression of Ukraine. The European Commission already adopted a €500 million support package in March 2022, as well as listed a wide range of actions to ensure the availability and affordability of fertilisers in November 2022. Rapidly decreasing agricultural product prices over the last year against the backdrop of still high input costs decreasing less rapidly – is causing liquidity problems for farmers, notably in the cereals and oilseeds, dairy and other livestock, wine, fruit and vegetable sectors. As a result of food inflation, consumer demand shifted away from certain products, like wine, fruit and vegetables, or organic products, creating further difficulties for producers.

Source : European Views

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