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The CMO is the framework for the market measures provided for under the CAP. Following a series of reforms, 21 separate CMOs were codified into a single CMO, covering all agricultural products, in 2007. Reforms to the CAP have, in addition, gradually made the policy more market-oriented and scaled down the role of intervention tools, which are now regarded as safety nets to be used only in the event of a crisis.

For many years the Common Agricultural Policy (CAP) was financed from a single fund, the EAGGF (European Agricultural Guidance and Guarantee Fund), which on 1 January 2007 was replaced by the EAGF and the EAFRD.