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ECONOMY

Agriculture Minister To Issue Decree For The Accumulation Of 4% Reserves In Grain By March 2022

Agriculture Minister To Issue Decree For The Accumulation Of 4% Reserves In Grain By March 2022

Minister of Agriculture, Rural Development and the Environment Costas Cadis will issue a decree instructing grain suppliers to accumulate reserves amounting to 4% until March 2022, the Ministry said in a press release.

The decision was taken during a meeting Cadis held with representatives of agricultural organisations which expressed fears over the viability of farms due to the steep rise in international animal feed prices.

According to the press release until the accumulation of the targeted reserves, the Ministry’s officials will carry out regular inspections on the smooth provision of grain to all farmers, while the Minister expressed the government’s intention to provide “temporary support to the Cypriot farmers to provide time to the market to function rationally and to apportion the increased production cost to the entire supply chain.”

The Minister will present the government plans in the coming days, the press release reads.

During the meeting, the Minister informed the agricultural unions that there is adequate supply of animal feed to cover the demands of productive animals in the country.

“With regard to the available options it was decided to immediately launch the process of building reserves as stipulated in the relevant law, aiming to accumulate reserves of 4% by traders until March 1, 2022 and towards than end the Minister will issue the relevant decree,” the Ministry said.

Source: CNA

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