Common Agricultural Policy 3
Common Agricultural Policy 3 : The CAP is a set of regulations by which members states of the European Community (EC) seek to merge their individual agricultural programs into a unified effort to promote regional agricultural development, fair and rising standards of living for the farm population, stable agricultural markets, increased agricultural productivity, and methods of dealing with food supply security. Two of the principal elements of the CAP are the variable levy An import duty amounting to the difference between EC target farm prices and the lowest available market prices of imported agricultural commodities) and export restitutions, or subsidies, to promote exports of farm goods that cannot be sold within the EC at the target prices
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