Adoption of the European Green Agreement and its effects on the agricultural industry

By: Trademagazin Date: 2024. 06. 20. 09:31

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At the beginning of the week, despite protests from several countries including the Netherlands, Italy, Sweden, Finland, Poland, and Hungary, and with Belgium abstaining, the European Union’s Environmental Council ultimately approved the Green Deal. This proposal had previously sparked widespread protests among farmers across Europe. Farmers’ main concerns include stricter environmental regulations, reduced subsidies, and uncompetitive conditions against cheaper, lower-standard imported products.

László Bárány, CEO of Master Good, a leading company in Hungary’s poultry production and processing, representing nearly 50% of the market, commented on the situation:

“There are many things in which the farmers are right. The European Union has set environmental protection goals that are unparalleled anywhere else in the world. One could argue that this is necessary, as Europe must always be a beacon of hope and lead the way for the world. However, it is evident that the competitiveness of the European Union is continually declining. With 500 million people living in Europe, including the UK, compared to 8 billion worldwide, half a billion people alone will not save the world. The farmer protests were precisely aimed at preventing the European Union’s Green Deal from completely destroying its own agricultural and food industry.”