Farmers Require Extraordinary Subsidies to Ensure Food Supply

Crops

Image by Shutterstock.com

Hungarian farmers need extraordinary subsidies from the European Union due to the war in Ukraine and the EU sanctions introduced in response to it so that they can continue to guarantee safe food supplies, Minister of Agriculture István Nagy said after a meeting of EU Agriculture and Fisheries ministers this week, according to agroinform.hu. 

Nagy said the majority of the EU agriculture ministers had asked the European Commission to activate a reserve fund of EUR 450 million set aside for agricultural emergencies. 

The minister said soaring energy prices had increased food production costs to such an extent that they cannot be offset even by gradually rising producer prices. He argued that the cause of the resulting crisis is completely independent of agriculture; therefore, the farmers cannot be expected to manage the situation without assistance. 

Nagy said he hoped that the EC would hear the request of the majority of the member states and would make a proposal to activate the reserve fund in the first months of 2023.

ADVERTISEMENT

Croatia Paying MOL USD 235 mln Award Energy Trade

Croatia Paying MOL USD 235 mln Award

3-day Strategic Cabinet Meeting Slated for Coming Week Government

3-day Strategic Cabinet Meeting Slated for Coming Week

OXO Technologies Looks for New HQ Elsewhere in EU Innovation

OXO Technologies Looks for New HQ Elsewhere in EU

Hungary Adopting Performance-based Financing for Arts Art

Hungary Adopting Performance-based Financing for Arts

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.