The European Commission has announced an EUR28m (US$35m) support package for milk producers in Estonia, Latvia and Lithuania – its latest response to the Russian ban on agricultural products from the EU.
The amount of support being provided to each of the three countries is EUR6.9m for Estonia, EUR7.7m for Latvia and EUR14.1m for Lithuania.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Phil Hogan, the commissioner for agriculture and rural development 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.”
The support measure follows earlier measures for the fruit, veg and dairy sectors.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
