Mon - Fri: 9:00 - 17:30
Sat-Sun Closed
+356 21244895
Phone
55/1 Giuseppe Calì Street XBX1425 Ta' Xbiex Malta

News

Malta: Government launches subsidy for cereal imports

Pin It

ECONOMYECONOMIA 33Scheme launched in wake of Russia's invasion of Ukraine

Russia’s invasion of Ukraine has led the government to launch a subsidy for the import of cereals and flour intended for human and animal consumption, with the stated aim of guaranteeing local food security and mitigating the increase in price of food products.

The Agriculture Ministry noted that the conflict between two significant grain producers – who together accounted for over 30% of the global wheat market – was driving food insecurity around the world, and that Malta was not immune to price increases and supply chain interruptions.

It emphasised that economies of scale worked against Malta: the relatively small imports not only led to increased crises, but also put at risk the security supply.


As a result, it said, it joined the Finance Ministry in launching what is formally named the “Temporary Price Stabilisation Subsidy Scheme (Emergency Measure).” The scheme applies to the imports of cereals and flour intended for human consumption, as well as for animal feeds for livestock farming intended for the local market.

 

 

R 2

 

 

ARTICLE WRITTEN BY NEWSBOOK

FOLLOW THE UPDATES ON THE NEWSBOOK

Image
Image
Image
Image
Image
Image
Image
Image
Image
© Copyright 2022 MALTESE ITALIAN CHAMBER OF COMMERCE. All Rights Reserved.