Cattle farmers receive new targeted support

(Photo: Pixabay)

The Minister highlighted that in order to strengthen the position of Hungarian livestock farmers and maintain the stability of the domestic cattle sector, the Hungarian State Treasury has started paying the fattened bull and the cattle extensification transitional national support to those affected. The extensification payment provides assistance to more than 3,000 farmers, and the fattened bull title to nearly 4,000 farmers. István Nagy explained that these two subsidies are measures financed from national sources that provide compensation to beef cattle farmers based on a specific historical base. The aim is to mitigate the uncertainty arising from the volatility of the market environment, in order to preserve the competitiveness of domestic fattened bull production. The amount of the payment now disbursed shows a significant increase compared to last year, which indicates the ministry’s commitment to the producers of the sector. The fattened bull subsidy was set at 30 thousand forints per historical base entitlement instead of 10 thousand forints last year, and the extensification subsidy was set at 15 thousand forints instead of 10 thousand forints the previous year, meaning that the budget amounts also exceed last year’s subsidy amounts by approximately 2 billion forints. Strengthening the liquidity of beef cattle farmers also enhances the sector’s export performance, which is particularly needed in the current period, the minister added.

AM