Dutch farmers are set to receive €29.9m in extra EU agricultural subsidies, the Volkskrant reports on Tuesday.

The money is the Netherlands’ share of an additional €500m being made available by Brussels to help farmers who have been protesting about low milk and meat prices.

Last month Dutch pig farmers sounded the alarm about their finances, saying they have been hit hard by the Russian boycott, low pork prices and tough Dutch rules on animal welfare.

Rabobank, which is the biggest Dutch agricultural bank, said last week some 20% of the Netherlands’ 5,000 pig farmers are in financial trouble.

Milk farmers are also struggling because of the boycott and overproduction. Last month, the national statistics office CBS said Dutch farmers are being paid 30% less for milk than they were a year ago.

Farm minister Sharon Dijksma said the money would be used to help both the milk and pig farmers.

Agricultural ministers are currently finalising the details of the extra payment.