Most people will still want to buy cheap food. I buy organic from local quality farmers when possible, but it's just not always practical and economical. So if we massively import cheap food, we will lose a lot (most?) of the agricultural jobs in Europe and that's not politically tenable.

The other argument I've heard against abolishing food subsidies is a strategic one. We'd become dependent on food from countries that are often not politically stable. An oil crisis on the food level could be devastating.

I say, if that's the argument, then be honest about it and nationalize agriculture instead of pretending it's private businesses.