The EU agricultural budget is revised
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CTA. 2003. The EU agricultural budget is revised. Agritrade, December 2003. CTA, Wageningen, The Netherlands.
Permanent link to this item: http://hdl.handle.net/10568/52813
The EU Agricultural Budget for 2004 has been reduced by € 1...
The EU Agricultural Budget for 2004 has been reduced by € 1 billion in the light of the reduced need for export refunds for cereals following the summer drought, which has reduced EU cereal production. This leaves the EU with a contingency reserve of € 4.3 billion. Comment: Savings of this order of magnitude could make reform of the EU sugar regime financially easier. With the euro strong against the US dollar, payments for export refunds on sugar have had to increase, strengthening the need for sugar-sector reform.