The Netherlands will start buying out farmers’ businesses at between 100-120% of their appraised value. This plan was approved by the European Union on Tuesday as part of a plan to cut nitrogen emissions in half by 2030.
Farmers who agree to this buy-out will not be able to start up their businesses elsewhere. By taking the money, they agree that the “closure of their production capacity is definite and irreversible and that they will not start the same breeding activity elsewhere in the Netherlands or within the EU.”
The Netherlands is one of the world’s largest agricultural producers, second only to the U.S.
Dutch farmers have been protesting these measures for months. Those who do not agree to sell their farms to the government will have them expropriated, or taken away, later. The exact conditions for the buyout will be revealed by the end of the month.