09/03/2022 08:13
The Government of Cyprus will buy two cargos of a total of 36,000 tons of barley and corn, to ease the shortage in the local market, Agriculture Minister, Costas Cadis told the Agriculture Committee of the House of Representatives.
He said that this is his proposal to the Cabinet and added that this is precautionary measure, aiming to safeguard the country’s sufficiency. The cost is estimated at €12.5 million.
He also said that a decree to be issued by the end of March, will require that importers maintain a 4% strategic reserve. He expressed the belief that the cargos will suffice until April 15th for livestock supplies and 5.5 months for flour milling. Additionally, after an intervention to the EU, a support plan for breeders is expected.
To a question after the meeting of the Parliamentary Committee, about the markets that will provide these cargos, he answered that the Government will contact large traders and, besides the EU, these are located in the USA.
On her part, the Minister of Energy, Commerce and Industry, Natasa Pelides, said that there is the need of a support mechanism for all affected parties, to safeguard that the citizens will not be burdened and the right groups of entrepreneurs will be benefitted.
Regarding the possibility of a price ceiling for grains, she said that this will only apply for consumers, but she also mentioned that she doubts the efficiency of a measure like that.
She added that a support mechanism for breeders might be more effective in an effort to avoid a black market phenomenon.