Poland to pay farmers hit by low grain prices 2.1 bln zlotys in subsidies

Poland will pay 2.1 billion zlotys ($516.49 million) in subsidies to farmers to compensate them for low grain prices, according to a draft regulation published on a government website. Farmers in Poland and other European Union countries have been protesting over low prices they attribute to imports from Ukraine as well as constraints placed on them by European Union environmental regulations.

"The aid is intended to compensate farmers for losses incurred in connection with the market situation caused by Russia's aggression against Ukraine and to increase grain turnover, thus accelerating the emptying of warehouses before the upcoming harvest," the regulation said. The subsidies will be funded from Poland's Aid Fund, whose main purpose is to support Ukrainian refugees. According to the regulation the Aid Fund will in turn receive money from savings elsewhere in the public sector and potentially from bonds issued by state-run development bank BGK.

($1 = 4.0659 zlotys)

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