EU offers farmers aid, more land to grow due to Ukraine war – The Peninsula

EU offers farmers aid, more land to grow due to Ukraine war – The Peninsula

BRUSSELS: The European Union is set to distribute 500 million euros ($550 million) to help farmers and allow them to grow crops on fallow land as part of measures to mitigate food price spikes and potential shortages resulting from the conflict in Ukraine.

The European Commission proposals, published on Wednesday, also include assistance to Ukraine to help its farmers sow corn and sunflower seeds and tend to wheat.

Ukraine is a top global player in sunflower oil, with over 50% of world trade, and holds significant shares for wheat, barley and maize, which has already led to surges in prices and concerns about shortages.

The EU executive stressed on Wednesday that there was no immediate threat to EU food security, given the bloc is a net exporter of cereals.

However, recognising farmers will face higher fuel and feed prices, the EU will distribute 500 million euros to the 27 EU members to aid farmers hardest hit by the crisis, particularly if they are engaged in more environmentally friendly production.

EU members can add a further 1 billion euros to the aid budget.

The EU executive will also let farmers temporarily grow crops on the almost 6% of EU agricultural land that is set aside to boost