The European Union`s much-maligned agricultural subsidies include giving Monaco`s billionaire monarch $338,600 because he owns a cereal farm.

The disclosure, made by the international aid agency Oxfam, comes as pressure from Third World nations on the EU to cut such subsidies is growing, the Independent said Monday.

Such subsidies, known as the Common Agricultural Policy are widely seen as the main stumbling block to completion of the current round of World Trade Organization talks.

Prince Albert, whose net worth is estimated at $2.35 billion, got the CAP money because he owns a 1,729-acre cereal farm in Britain.

Find out why the EU pays subsidies to Prince Albert of Monaco at http://news.monstersandcritics.com/business/article_1060321.php/EU_farm_subsidy_paid_to_billionaire.