The Minister of Agriculture, Fisheries and Food, Luis Planas, explained that since October 17 the advance payment of the Common Agricultural Policy (CAP) has begun, which will benefit some 680,000 farmers and ranchers. Some 2.8 billion euros will reach producers in the coming weeks, a figure that will rise to approximately 4 billion euros at the end of December.
Planas recalled that this policy, which represents support of 7,400 million euros per year for Spanish producers, is the main economic support for the sector and represents between 20 and 30% of the income they receive.
The European Commission authorized, at the request of Spain and other Member States, to increase from 50% to 70% the advance payment of direct aid from the CAP, which constitutes, in its opinion, an “important safety net for farmers and ranchers, which pays to the producers for exercising an essential service for the population and strategic for the economy, such as the production of quality food”.
The Minister stressed the opportunity of the advances that will allow farmers and ranchers to face the start of the campaign with greater liquidity in a complex economic context of increased costs due to Russia’s war in Ukraine.