["Agribusiness, EarlyView. ", "\nABSTRACT\nEfficient plant variety registration is crucial for fostering innovation in the European Union, yet the current regulatory framework is complex and faces calls for reform. This study provides data‐driven evidence to inform the ongoing legislative debate by employing a mixed‐methods approach. We integrate a large‐scale panel data analysis, covering 27 crops across 27 member states from 2004 to 2023, with insights from a survey of 54 key stakeholders in variety testing. Using a panel fixed‐effects model, we assess how the stock of market‐approved varieties and the time required for their approval impact agricultural productivity. Our results reveal a dual effect. We find a positive relationship between the stock of registered varieties and crop yield, suggesting that the system successfully enables productivity gains by providing a trusted portfolio of innovations. However, results suggested a significant productivity drag associated with longer registration times. This negative effect is borne almost exclusively by agricultural crops subject to mandatory Value for Cultivation and Use (VCU) testing, providing quantitative evidence of a cost associated with this additional regulatory layer. These findings are reinforced by our stakeholder analysis, which highlights strong support for improving efficiency, particularly by integrating new technologies, adjusting VCU criteria, and promoting greater harmonization efforts. By linking the economic impact of regulatory delays to specific policy mechanisms, this research offers direct, evidence‐based insights for the reform of the EU's Plant Reproductive Material legislation.\n"]