New agricultural subsidies proposed in the Faroe Islands

The Faroese government has announced a draft proposal for new agricultural subsidies, which could provide support to individuals, businesses, and associations, Kringvarp Føroya reports.

To qualify, applicants must be registered for VAT, maintain proper accounting records, and have an annual turnover exceeding 50,000 Danish kroner (DKK).

Under the proposal, subsidies for first-grade milk would be capped at 1.05 DKK per litre. For lamb meat, the maximum support would be 20 DKK per kilogram of fresh meat.

Additional subsidies would cover calves, beef, poultry, eggs, and milking equipment for dairy farmers. Support would also extend to crops such as apples, root vegetables, and herbs, as well as Faroese horse breeding, geese, eiderdown, sheepskin, and wool.

The draft is open for public consultation until 29 May.