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EU ministers discuss the impact of war in Ukraine on EU markets

by gary cartwright
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EU Ministers took stock of the market situation in member states, particularly in light of Russia’s war against Ukraine. They further received information from the Commission on the latest developments on agricultural markets. While recent months have shown more stability, energy and input prices remain high, weakening profitability and leading to high consumer prices.

The ministers exchanged views on the possible actions to help ease the situation in Ukraine in the short and long-term, and renewed their commitment to continue to facilitate and strengthen land connectivity via the EU’s solidarity lanes. Ministers moreover acknowledged the impact of the war on EU markets, and discussed support measures for the most affected sectors, including the possible use of the agricultural reserve.

Peter Kullgren, Swedish minister for rural affairs

While markets have stabilised in recent months, the Russian war on Ukraine has kept energy and input prices high, weakening producers’ profitability and leading to high consumer prices. Today’s Council has shown clear support to help Ukraine, including through the solidarity lanes. Ministers acknowledged the pressure on EU producers and discussed potential support measures to help the EU’s agri-food sector and ensure its competitiveness and resilience, including the possible need to activate the agricultural reserve.

Peter Kullgren, Swedish minister for rural affairs

Ministers also discussed the opportunities of the bio-economy with a view to adopt Council conclusions on the subject. The ministerial discussion focused especially on the benefits of the bioeconomy for rural areas and acknowledged the contribution that the bioeconomy can bring to addressing several of today’s challenges, including climate change, jobs, competitiveness, energy, and resilience.  Actions are already ongoing within the EU and the member states. Ministers agreed that more could be done to unlock the potential, such as mobilising financial resources for innovation and ensuring that EU policy is supporting the development of a sustainable bioeconomy.

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