CYPRUS

Nicosia to build up grain stock

Nicosia to build up grain stock

The Cypriot government approved on Wednesday a proposal by the Minister of Agriculture which provides for the government to buy large quantities of grain in preparation for expected shortages stemming from Russia’s invasion of Ukraine.

Agriculture Minister Costas Kadis told the press after the meeting of the Ministerial Council that the Republic of Cyprus will purchase 36,000 tons of barley and corn, which will go towards increasing its stockpile.

Kadis said that Cyprus already has some reserves from the purchases made by importers which will last until mid-April, adding that these new orders will constitute additional quantities. He noted that the situation is being monitored daily and that more grain can be purchased as needed.

He also explained that the specific provision arises from recently passed legislation which allows the state to make orders of its own in the event of a crisis.

The minister went on to explain that the state will import the quantities and give them to importers under specific conditions, and with full transparency.

As of last week, Nicosia has established two ministerial committees to monitor the effects of the Ukraine crisis on Cyprus.