EU set to allocate 50 mln euros to support Italy's agriculture

A European meeting on agriculture has discussed using emergency funds for the industry and allocating 50 million euros ($55 million) to support Italian businesses in the sector, Agriculture Minister Stefano Patuanelli said on Tuesday.

The minister added that Italy would itself allocate a further 100 million euros to co-finance the measure.

Speaking in an online interview to Italian newspaper Corriere della Sera, Patuanelli said he did not see a problem regarding the availability of raw materials in the light of the Ukraine invasion but added that there was a serious spike in costs that needed to be addressed. ($1 = 0.9079 euros)