News

EU paid $70 billion in farm subsidies in 2009

As the European Union wrestles with the continuing economic crisis some are questioning agricultural policy. The 27 member-nations are required to report their agricultural subsidies by April 30th each year although the U.K. held-off until after the results of the recent election were known. Time magazine says in 2009 European agricultural subsidies totaled about $70 billion which is about 40 percent of the E.U. budget.

Brussels-based Farm Subsidy.org has published a list of recipients and notes there were 1,212 “farm subsidy millionaires” in 2009. That is up from 900 in 2008. Germany had the most, 268 while France had 174.

Some of the more notable recipients include $223 million to a French sugar conglomerate Tereos, $1 million to the daughter of Bulgaria’s former Deputy Agriculture Minister and $695,000 to Queen Elizabeth. It also notes more than 20,000 hobby farmers received payments of $750 or less adding up to more than $5 million.

The E.U. is set to reform their agricultural policy in 2013 but pressure is mounting to make some changes before that time.