A formal decision on further "CAP reform - a long-term perspective for sustainable agriculture" was taken by the EU Council of farm ministers meeting in Luxembourg on 26 June 2003. The reform includes far-reaching amendments of current policies, including further reductions in support prices, partly offset by direct payments and a further decoupling of most direct payments, such as the new single farm payment from current production. The different elements of the reform will enter into force in 2004 and 2005. A single farm payment will enter into force in 2005. If a member state needs a transitional period due to its specific agricultural conditions it may apply the single farm payment from 2007 at the latest.