The Greek Ministry of Agriculture said on Monday that sunflower oil production could be increased if necessary

Published Mar 29, 2022

Tridge summary

The Greek Ministry of Agriculture is considering a move to increase sunflower oil production to combat record inflation, by shifting production towards household consumption instead of biofuel. Currently, Greece imports most of its wheat, including about 250,000 tons from Ukraine and Russia, and is asking suppliers to declare stocks of various groceries. The country's annual consumer inflation reached 7.2% in February, the highest in 25 years, due to increases in energy, housing, and transport prices. In an effort to support Greek farmers, the government has applied for EU funding for soft wheat and corn crop grants for the periods 2023-2027.

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Original content

The Greek Ministry of Agriculture said on Monday sunflower oil production could be boosted if needed by producing more for household consumption rather than biofuel production as rising prices contribute to record inflation, oilworld.ru reported citing Reuters. So far, there is no food shortage in Greece, the ministry said in a statement following a ministerial meeting chaired by the prime minister. Greece imports sunflower oil from Ukraine. It estimates its soft wheat imports from Ukraine and Russia at around 250,000 tons, about 30% of total wheat imports. “The Minister of Agriculture noted that there is always the possibility of increasing domestic production, while improving the distribution between biofuel use and household use can further help increase the volumes available for consumption,” the ministry said, without providing further details. The government has asked suppliers such as supermarkets and other food retailers to declare stocks of groceries, including flour, ...

Source: Oilworld