German Govt to Help Dairy Farmers as Milk Prices Fall

June 1, 2016 07:35 AM

Germany says it will provide at least 100 million euros ($112 million) to help the country's milk producers who have been suffering from falling prices.

Agriculture Christian Schmidt said Monday the 100 million euros in direct aid and tax benefits would be augmented by a yet-to-be determined sum that Germany would discuss with the European Commission, the dpa news agency reported. He said he also expected Germany's states to provide additional aid.

Farmers in Germany, the EU's largest dairy producer, say there's an oversupply of milk and they're now getting less than 20 cents per liter when they need some 35 cents per liter to cover their costs.

Joachim Rukwied, president of the German Farmers' Association, says they need "much, much more" than the 100 million euros pledged.

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