Germany allocates 100 million euros in emergency aid for dairy farmersStaff writer ▼ | June 1, 2016
The German government will support German dairy farmers suffering from milk prices fall with an emergency aid of at least 100 million euros ($111 million, German Agriculture Minister Christian Schmidt announced.
Dairy problems Facing the falling milk prices
"We all agree that we must on the one hand come to structural improvements and on the other hand to the assistance of farmers with short-term financial support," he said.
According to Schmidt, the emergency aid package includes livelihood assistance, tax relief from income smoothing and exemption regulations for debt repayment.
Currently, German dairy farmers receive only about 20 cents per liter of milk, which is far from sufficient to cover the cost. The ongoing milk price decline is mainly due to large volumes of milk in the markets. ■