EC to support dairy producers

In order to support the European dairy sector, European Commission plans to subsidize the private storage of butter, skimmed milk powder (SMK) and selected types of cheese, an EC press release said on Thursday. The subsidy value is said to be €10-20 million. According to EU Agriculture and Rural Development Commissioner Dacian Cioloș, the results of the Russian embargo are increasingly visible in the dairy sector and therefore it has to adjust to the new market conditions. However, this might be time-absorbing. Some EU countries experience export losses and must find other target markets. Butter, SMK and cheese are the products of most importance. Additional support for those products is possible in the future. Next week, the current subsidy project will be put to the vote, added Cioloș. The Russian ban on selected EU produce and products was introduced as of August 1, 2014.