„We have received, probably here tomorrow or the day after, a signature that Lithuania will receive about 10 million euros in compensation for fertilizer and energy prices, that is, fuel (prices – BNS) increases for farmers,“ K. Mažeika said in an interview with BNS on Wednesday.
It was announced that the state may supplement this amount up to 200% with budget funds, but the minister said he could not yet say whether they will be allocated.
BNS wrote that the EU plans to allocate 540 million euros in urgent financial support to farmers who face increased production costs due to rising fertilizer and energy prices. Fertilizers are important for agricultural productivity and food security and account for 16% of farmers’ production costs.
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Due to Russia’s aggression against Ukraine, the war in Iran, the closure of the Strait of Hormuz, and supply disruptions, fertilizer prices have risen sharply, putting increasing pressure on farmers across Europe.
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About 30% of nitrogen and 70% of phosphate fertilizers in the EU are imported.
