Trade Resources Company News The European Commission to Offer in Financing for Milk Producers in Estonia

The European Commission to Offer in Financing for Milk Producers in Estonia

The European Commission will offer €28m in financing for milk producers in Estonia, Latvia and Lithuania, in response to the ban imposed by Russia on certain EU agricultural product imports.

Based on individual milk production levels within national quotas during 2013/2014 , the funding has been divided among the three countries.

Out of the total funding, €6.9m will be provided for Estonia, €7.7m for Latvia and €14.1m for Lithuania.

Agriculture and Rural Development commissioner Phil Hogan said: "I am very conscious of the significant impact that the Russian ban has had on dairy producers in the three Baltic countries given their exposure to the Russian market and the drop in prices.

"When we look at the share of national production previously exported to Russia and the drop in prices since the start of the crisis, we see that the dairy sectors in Latvia, Lithuania and Estonia have been particularly adversely affected.

"I am pleased, therefore, that the Commission intends to provide support in the form of a financial envelope for each of the three countries which will support those dairy farmers which, as a result of the Russian ban, are encountering liquidity problems in exceptional circumstances."

This support measure for the Baltic countries follows earlier specific market support measures for peaches & nectarines, perishable fruit & vegetables and the dairy sector, as well as an additional €30m for promotion programmes.

 

Source: http://www.food-business-review.com/news/european-commission-to-back-milk-producers-in-baltic-region-with-28m-funding-201114-4445564
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European Commission to Back Milk Producers in Baltic Region with €28m Funding