ANNOUNCED AS TEMPORARYYes
On 20 December 2013, the EU adopted Regulation (EU) No 1311/2013 which establishes the budget of the market measures financed by the European Agricultural Guarantee Fund (EAGF) for the 2014-2020 period at EUR 66 billion (approx. USD 90.3 billion).
In addition, Regulation (EU) 1308/2013 establishes the operating rules for the market support measures to be provided, which can take different forms (see related state acts). Beneficiaries are farmers of products listed in Article 1 of Regulation (EU) 1308/2013. Annex I further specify the HS codes.
Under Common Agricultural Policy (CAP) rules, the European Commission and Member States can coordinate market measures to stabilise agricultural markets, prevent crises from escalating, and boosting demand. According to Regulation (EU) 1308/2013, market measures can be divided into the following two groups:
EU's CAP framework
The CAP framework is the EU-wide agricultural policy born in 1962 that is subject to reforms and new rules every six years. It aims to support farmers and improve agricultural productivity, ensuring a stable supply of affordable food. Under the CAP, Member States provide three main types of support to the agriculture sector: (i) income support measures, (ii) market measures; and (iii) rural development measures. The two first are primarily financed by the EAGF; whilst the third and last support type is financed by the European Agricultural Fund for Rural Development (EAFRD).
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