EU Commission Unveils Details of EUR 500M Aid Package for FarmersEU | September 15, 2015, Tuesday // 21:23| views
EU Agriculture and Rural Development Commissioner Phil Hogan.
The European Commission on Tuesday unveiled the details of its EUR 500M support programme for European farmers affected by the Russian ban on food imports from the West.
The support package, which was announced last week, “is a significant statement of support by the Commission for European agriculture,” the Commissioner for Agriculture and Rural Development Phil Hogan said in a statement.
The scheme provides for a “fair, targeted and effective” allocation of EUR 420M in aid to farmers in all EU member states to address problems in the dairy and pigmeat sectors, while allowing those countries maximum flexibility in targeting the aid, according to the statement.
One of the key aims of the Commission's package is to stabilise the markets in an effective manner, Hogan told an informal Council of Agriculture Ministers.
A key element of the package will be the introduction of a new and improved private storage scheme for skimmed milk powder and cheese and a new private storage scheme for pigmeat.
The measure aims “to provide real market stability by withdrawing a sufficient volume of product from the market and for a sufficient period of time to allow the market to recover,” Hogan said.