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Agriculture Bearings Feature

The Common Agricultural Policy of the European Union has often been accused of dumping though significant reforms were made as part of the Agreement on Agriculture at the Uruguay round of GATT negotiations in 1992 and in subsequent incremental reforms, notably the Luxembourg Agreement in 2003. Initially the CAP sought to increase European agricultural production and provide support to European farmers through a process of market intervention whereby a special fund - the European Agricultural Guidance and Guarantee Fund (EAGGF) - would buy up surplus agricultural produce if the price fell below a certain centrally determined level (the intervention level). Through this measure European farmers were given a ¡¯guaranteed¡¯ price for their produce when sold in the European community. In addition to this internal measure a system of export reimbursements ensured that European produce sold outside of the European community would sell at or below world prices at no detriment to the European producer. This policy was heavily criticised as distorting world trade and since 1992 the policy has moved away from market intervention and towards direct payments to farmers regardless of production (a process of "decoupling"). Furthermore the payments are generally dependent on the farmer fulfilling certain environmental or animal welfare requirements so as to encourage responsible, sustainable farming in what is termed ¡¯multifunctional¡¯ agricultural subsidies - that is, the social, environmental and other benefits from subsidies that do not include a simple increase in production.

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NingBo Pacific Bearings Machinery Manufacturer Factory
Add: Renjiu Village Industry Zone Yinzhou,Ningbo city
Tel: +86-574-87841121
Fax:086-574-87841121
Payment terms:T/T, L/C or negotiate
Contact Person : Mr.Kenneth
Website : www.bearings-china.com.cn
E-mail : ibearings@gmail.com
Country of Origin :China Ningbo