Faroe Islands government plans to raise agricultural subsidies

The Faroe Islands government plans to increase agricultural subsidies to strengthen local food production and self-sufficiency, KVF reported.

Jacob Vestergaard, the minister for business affairs who oversees agriculture, said higher subsidies would provide greater incentives and help accelerate production.

The issue is being considered as the government puts the final touches to the budget, but Vestergaard declined to say how much the agricultural sector could expect.

“We have been discussing the budget, in which agriculture is also included. Agricultural subsidies are currently broken down into detailed categories for different types, and we intend to simplify the system overall and add some funding for what is called other crops,” Vestergaard said.