ECONOMY

Cyprus has enough flour for 3 months

Cyprus has enough flour for 3 months

Cyprus has enough wheat for human consumption to last for at least another three months despite shortages created in supply due to the Ukraine war, Rural Development Minister Costas Kadis said on Thursday.

Difficulties have emerged in the global supply chain because of the Russian invasion of Ukraine and international sanctions against Moscow.

Kadis met flour-making companies and importers of wheat for human consumption to discuss ways of tackling potential problems that may arise in distributing these goods in the market.

The Ukraine war and the sanctions against Russia created supply problems, pushing wheat prices sharply upward, as these two countries are among the world’s top wheat producers.

Asked about the sufficiency of stocks, the minister of agriculture said that, for the time being, there is enough wheat for human consumption for at least three months. “We can feel safe, but we are constantly monitoring the situation,” he stated.

Between them, Russia and Ukraine supply about 26% of the world’s wheat exports, and shipments through the Black Sea have already been disrupted.