Cyprus wheat supplies secure, for now says minister
Following developments in Russia and Ukraine, Agriculture Minister Costas Kadis on Monday assured that Cyprus would not face a wheat shortage in the foreseeable future.
Kadis’ comments came in response to the announcement by Russia that it is has pulled out of an agreement to allow Ukraine to export grain, which has been in place for several months.
Speaking on CyBC radio, Kadis said that the ministry had prepared during the summer for any eventuality, ordering and stockpiling a reserve amounting to 37,000 tonnes of wheat.
The investment made to preserve and store this wheat in silos is now proving its worth, Kadis said, adding that it is hoped the reserve will not need to be released at present.
The minister said that prices will inevitably rise because although only a small amount of the island’s wheat imports come from Russia and Ukraine, the price of wheat is subject to the worldwide increase in demand and no interference in the market is possible.
Read also
United States, Brazil and China lead global food export rankings
US boosts purchases of Canadian canola products
Why Bulgaria Is Strengthening Its Position in the Black Sea Barley Market
Reopening of the Strait of Hormuz could trigger a surge in grain imports to the Pe...
Malaysian palm oil futures rose more than 2% on Tuesday
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon