Greek farmers on tractors protest ‘unbearable’ fuel, fertilizer costs

Greek farmers on tractors protest ‘unbearable’ fuel, fertilizer costs

news image - Financial Markets Worldwide

Please try another search

Economic IndicatorsMar 19, 2022 06:26AM ET


Greek farmers on tractors protest 'unbearable' fuel, fertilizer costs© Reuters. Greek farmers hold a placard during a demonstration against fuel and fertilizer costs affected by the Russian invasion of Ukraine, in Athens, Greece, March 18, 2022. REUTERS/Louiza Vradi


ATHENS (Reuters) – Hundreds of Greek farmers, some on tractors, protested in Athens on Friday, demanding more tax cuts and subsidies to combat high fuel and fertilizer prices which have soared since Russia’s invasion of Ukraine.

The farmers, who staged weeks of protests over high energy prices earlier this year, say their costs are so high they will be forced to produce less and also raise prices for consumers.

The government has so far spent about 3.7 billion euros ($4.08 billion) since September to alleviate pain from soaring energy and fuel costs for farmers, households and businesses.

It cut a sales tax on fertilisers by 46% to 13% and on Thursday announced it would be lowered further, to 6%, and also announced a tax rebate on fuel for agricultural vehicles.

Farmers say the measures do not go far enough and everything has become too expensive, from fuel to animal feed.

“Our survival is really at stake this year,” said one protester, Giorgos Laoutis. “With the cost of production, electricity, agricultural supplies, fuel.”

Farmers from across Greece joined the rally. Some protesters hung black flags on shepherd’s crooks or sticks.

“The situation has become unbearable,” said another farmer, Diamanto Kritikou.

“We can’t work our fields, we can’t cultivate, we can’t put gas in our vehicles, and (we can’t buy) seeds, fertilizers… there will be a problem with food supply in the country,” she said.

Russia’s invasion of Ukraine has driven retail gasoline and diesel prices to record highs.

Russia is also a big producer of potash-, phosphate- and nitrogen-containing fertilisers, and a leader in fertilizer exports, accounting for 13% of world output.

This month, its trade and industry ministry told the country’s fertilizer producers to temporarily halt exports.

As a result of the conflict in Ukraine, the United Nations food agency said last week that international food and feed prices could rise by up to 20%.

($1=0.9062 euros)

Related Articles

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Read More