(VOVworld) - European Union agriculture ministers gathered in Brussels Monday to find solutions to the serious economic crisis affecting the agricultural sector.

Farmers protest in front of the EU’s headquarters. (Photo: rte.ie)

According to an announcement by the Council of the EU, the emergency meeting discussed falling food prices and the impacts of its Russian sanctions.

Fernand Etgen, Luxembourg’s Minister of Agriculture, said ahead of the meeting that the dialogue aimed to find ways to deal with the current serious economic crisis negatively affecting the agriculture sector. Etgen said the latest figures show that the prices are not profitable for most producers and promised that the ministers and the EC will create a short and medium-term program to give new hope to farmers.

Earlier EU agriculture ministers agreed a 500 million euro subsidy package for farmers. EU Commission Vice President Jyrki Katainen called it a quick and decisive response that shows the EC always honors its responsibility to farmers.