Trade Resources Industry Views The Move Comes in Response to The Russian Ban on The Import

The Move Comes in Response to The Russian Ban on The Import

The European Commission has approved a €28m financing package for milk producers in Estonia, Latvia and Lithuania.

The move comes in response to the Russian ban on the import of certain EU agricultural products.

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

The funding has been divided among the three countries based on their respective 2013/2014 milk production levels within national quotas.

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 and nectarines, perishable fruit and vegetables and the dairy sector, as well as an additional €30m for promotion programmes.

 

Source: http://www.drinks-business-review.com/news/european-commission-approves-28m-for-baltic-milk-producers-201114-4445248
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European Commission Approves €28m for Baltic Milk Producers