EC Freezes Farm Prices: Agriculture ministers in...

EC Freezes Farm Prices: Agriculture ministers in the European Economic Community have agreed to freeze most farm prices within its 12 nations to keep the farm budget at $33 billion. After a weeklong debate, the 12 EEC ministers agreed to keep price supports generally at last year’s levels. The biggest cut will be made in guarantees to growers of citrus fruits, down 7.5%. Prices for sugar will drop by 2%, although the community’s executive commission had requested a 5% cut. A tax on the production of surplus milk will be reduced by 25%, a move that milk producers had supported. The EEC farm budget is more than 60% of the organization’s total budget.