Wheat Prices Increase By 60% Since January: Concerns Increase
As trading routes shut, sanctions are put into place and war in Europe continues to rage on, Maltese wheat importers are once again ringing the alarm bells. Typically taking advantage of the accommodating Black Sea shipping routes, Maltese grain was principally imported from the Russian Federation prior to the conflict’s start. Now Malta finds itself at a major crossroads, aligning itself politically with its Western and EU allies but this is a stance which leaves the nation’s gas and grain supplies in potential jeopardy.
Concerns are also beginning to mount that the current Labour administration is downplaying the effects of the crisis due to the onset of election season, promising cushioning from rising energy and food prices left, right and centre. It is now questionable how many of the promises being made will be economically feasible in the next term in power as international market volatility skyrockets.
Do you think the Maltese government is downplaying the effects of this war?