Europe seeks to reform costly farm regime

The video discusses the challenges faced by Europe's dairy sector, highlighting the impact of high prices driven by global demand. It examines the effects of the Common Agricultural Policy, particularly the milk production quota, and the decision to phase it out to ease transitions and lower consumer prices. The video also covers proposed reforms, including ending guaranteed grain prices and capping subsidies, which may face opposition from countries with large agricultural sectors. The historical context of the policy, created in 1962 to ensure food security, is provided, along with the current debate on maximizing exports.

What impact has the common agricultural policy had on consumer prices?

What challenges might arise from the proposed reforms to the agricultural policy?