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European Commission assigns more than €185 million to grow agrifood products

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on FoodNavigator or enjoy below:

🗞️ Driving the news: The European Commission (EC) will allocate €185.9 million in 2024 to promote sustainable and high-quality agrifood products globally
• This budget, consistent with 2023's allocation, is aimed at enhancing the international presence and recognition of EU agricultural products, focusing on their quality, gastronomic traditions, and sustainability

🔭 The context: Despite the static budget compared to the previous year, the 2024 EU agrifood promotion policy shows positive changes, such as the removal of discriminatory criteria against alcoholic beverages and red/processed meat, which were proposed in 2023

🌍 Why it matters for the planet: The EC's funding strategy focuses on sustainable farming practices, reducing the use of pesticides, antimicrobials, and greenhouse gas emissions, and promoting organic farming
• This approach is integral to the EU's broader commitment to sustainable agriculture, with a significant portion of the budget (€62m) dedicated to sustainably produced agrifood products, including €42m specifically for organic products

⏭️ What's next: The EC's agrifood promotion campaigns will target both EU internal markets and third countries, with an emphasis on regions like China, Japan, South Korea, Singapore, and North America
• The initiative is expected to enhance the competitiveness of EU farmers and agrifood businesses globally

💬 One quote: “The EU’s promotion policy helps EU producers sell their farm products in an increasingly competitive global marketplace while delivering jobs and growth at home” (Olof Gill, European Commission)

📈 One stat: The 2024 budget is allocated across European projects (€81.3m) and projects in third countries (€85.1m), aiming to tap into markets with high growth potential

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