The European Commission announced it will offer Private Storage Aid to pay for the storage of butter, skim milk powder and some cheeses for three to seven months. Farm milk prices have plunged in Europe since Russia banned imports from countries which imposed sanctions on them.
A draft proposal will be presented to the Commission in the next week. The EU Ag Commissioner Dacian Ciolos also announced he will present a full analysis of the impact the Russian ban is having on European agriculture. The Commissioner promised “further measures” if needed to support EU farmers.
Russia imposed a one-year embargo on meat, fish, dairy, fruit and vegetables from the United States, the European Union, Canada, Australia and Norwayy in retaliation for Western economic sanctions over Russia’s actions in Ukraine.