FRANCE-AGRICULTURE/LIVESTOCK France offers financial help for protesting livestock farmers

Record ID: 149302

  • Title: FRANCE-AGRICULTURE/LIVESTOCK France offers financial help for protesting livestock farmers
  • Date: 22nd July 2015
  • Summary: PARIS, FRANCE (JULY 22, 2015) (AGENCY POOL) FRENCH PRIME MINISTER, MANUEL VALLS, AT NEWS CONFERENCE (SOUNDBITE) (French) FRENCH PRIME MINISTER, MANUEL VALLS, SAYING: "Numerous farmers have the feeling that their daily efforts are not paying. This anguish of the farmers has to be heard. We hear it. And responding to it."
  • Embargoed: 6th August 2015 13:00
  • Keywords:
  • Location: France
  • Country: France
  • Topics: General
  • Reuters ID: LVA3SW76QTTQPGYZLNAVI2K32RDY
  • Aspect Ratio: 16:9
  • Story Text: France announced measures worth up to 1.1 billion euros (766.3 million Pounds) on Wednesday (July 22) to support its livestock farmers and try to halt protests which have escalated in recent days into road blockades in the northwest.
    President Francois Hollande had on Tuesday promised a plan to help struggling cattle, pork and dairy producers suffering from low prices, tough competition and a squeeze on margins by food processors and retailers.
    French Agriculture Minister Stephane Le Foll, who has said about 10 percent of livestock farmers were on the brink of bankruptcy, detailed 24 measures mainly aimed at easing struggling farmers' cash flow.
    "The government - and we have already launched it last week - will ask for a restructuring of mid and long-term debts for livestock farmers in a difficult situation, if they wish for it, with a particular emphasis that will be put on the young farmers and recent investors," he said.
    The package offers up to 600 million euros worth of tax exemptions and delayed payments that would cost the French treasury about 100 million.
    In addition, the state would guarantee up to 500 million euros worth of loans for producers through its public investment bank, mainly to reimburse debts to suppliers. That would cost the government another 100 million euros.
    In a set of longer term measures, France also aims to reverse a drop in competitiveness on local and export meat and dairy markets, notably against other European countries where prices have been significantly lower, with an initial focus on Greece, Turkey, Lebanon and Vietnam, French Prime Minister Manuel Valls said.
    "Numerous farmers have the feeling that their daily efforts are not paying. This anguish of the farmers has to be heard. We hear it. And responding to it," he said on Wednesday.
    Traditionally mostly right-wing, French farmers have become increasingly frustrated with the Socialist government of Hollande, saying increased paperwork and high labour costs are the main cause for their loss in competitiveness.
    Russia's embargo on European food imports and a milk surplus linked to the end of EU quotas, lower Chinese demand and supermarkets' pricing power have further dented their profits and morale.
    Polls released at the latest elections showed a rising number of farmers were turning to the far-right National Front.
  • Copyright Holder: POOL (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2015. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: None
Register