Arable crops program
Encyclopedia
The arable crops program is a consolidated support system operated under the EU Common Agricultural Policy for producers of major cereals, oilseeds, and protein crops. Production of these crops constituted 21% of farm income and 40% of agricultural lands in the EU in 2000. Main elements of the program include area compensatory payments, reductions in administered prices (also known as intervention prices
), and annual land set-aside program requirements.
Intervention prices
In agricultural policy, the intervention price is the price at which national intervention agencies in the EU are obliged to purchase any amount of a commodity offered to them regardless of the level of market prices . Thus, the intervention price serves as a floor for market prices...
), and annual land set-aside program requirements.