EU prolongs agricultural support measures for another year | RetailDetail

EU prolongs agricultural support measures for another year

EU prolongs agricultural support measures for another year

The European Union has confirmed it will prolong the measures for all farmers struck by the Russian trade boycott for another year. The support program will now continue until June 2016, at least.

Drop in export

The support measures were launched to soften the blow from the Russian boycott, which started in August 2014. The boycott is on products from the European Union, the United States, Canada, Australia and Norway, after these had opposed the annexation of the Ukrainian Crimean Peninsula and issued sanctions.

 

Price control is the biggest measure taken to help local farmers: as export plummets, there is a surplus of supplies, which in turn causes the prices to drop. Farmers who produce less so that prices can be maintained, will get the financial backing of the European Union.

 

Nevertheless, a large number of farmers have found a way to circumvent the boycott and get their products into Russia anyway: they export to countries that still have trade relations with Russia. In those countries, these products are given new labels and make their way into Russia.

 

More good news for Belgian farmers

There is more good news for Belgian farmers because trade federation Comeos and the Belgian Competition Authority will launch a proposal to limit the impact of volatile prices in the short and long run.

 

In the short run, the dairy and pig industries will get temporary price support and in the long run, all parts of the chain will need to participate in a stabilising mechanism. The proposal should be finalized by the end of August and it should help halt any further Belgian farmers' protest.

Questions or comments? Please feel free to contact the editors


Several candidates to take over Men at Work

12/07/2018

There are several takeover candidates for both the Dutch and the Belgian stores of the bankrupt clothing chain Men at work. The curator is confident an agreement should be reached today in Belgium.

Burberry sales increases thanks to new strategy

11/07/2018

The new strategy of the British fashion brand Burberry starts to render: the company had a 3% increase of revenue in their own stores last quarter. In total, Burberry has now a revenue of 479 million pounds (520 million euros).

FNG moves to Brussels stock exchange

06/07/2018

Belgian fashion group FNG has collected 60 million euros by issuing new shares. The new shares will be traded on the Amsterdam Stock Exchange and - for the first time - on the Brussels Stock Exchange as well.

Athleteshop ends its run

02/07/2018

Dutch sports web shop Athleteshop has filed for bankruptcy, after an abysmal year in which strings of complaints led to all sorts of problems. Social media and review sites were flooded with customers complaining about late deliveries.

Alibaba goes Turkish with stake in Trendyol

29/06/2018

Alibaba is the new strategic partner of Trendyol, one of the best-known e-commerce companies in Turkey. With this partnership, the Chinese retailgroup strengthens its presence in Europe.

Profits H&M Group take another hit

28/06/2018

Swedish fashion group Hennes & Mauritz has published a fourth consecutive quarterly turnover that was lower than expectations. The group that owns chains like COS, Monki and &Other Stories saw its profit drop by 21 %, despite a (slightly) higher turnover.