Addressing a political rally, Prime Minister Robert Abela said Malta will grant major food importers financial assistance to prevent price hikes.
This is in order to ensure Malta is adequately stocked due to the crisis caused by the invasion of Ukraine by Russia.
Abela confirmed the government struck a deal with the major importers of wheat, cereals and nuts, saying that the deal will see his administration providing importers with ‘necessary liquidity’ to stock up at the Kordin Grain Terminal.
This will stop products such as bread and milk from becoming more expensive. Abela compared the reaction of international markets in reaction to the invasion of Ukraine and the aftermath of the pandemic in March 2020.
He reiterated how countries restricted the exportation of wheat and cereals as supply decreased and prices increased. Abela said that Malta used the same principles which the government learned to apply so well after two years of COVID to ensure the inflation impact will be as minimal as possible.
The PN proposed last September a €40 million state fund to help importers deal with the increases in cost of transporting goods.
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