Agrarian Chamber: farming profits to drop to 2 billion crowns

The Czech Agrarian Chamber says Czech agricultural profits will reach around 2 billion crowns (around USD 112 million) compared to 9.7 billion crowns (USD 540 million) last year. The head of the Agrarian Chamber, Jan Veleba, said on Sunday the agricultural sector might post a loss of about 4 billion crowns next year – the first time since joining the EU – in case it does not receive any state subsidies. Agriculture Minister Jakub Šebesta says the ministry will not curb farming subsidies this year, however, next year’s state budget may not allow for full payment.