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pr220798en

PR220798en

15/06/2022

PRESS RELEASE BY THE MINISTRY FOR THE ECONOMY, EUROPEAN FUNDS AND LANDS: Kordin Grain Terminal’s pragmatic approach to keep wheat and grain prices stable



The Kordin Grain Terminal has been operating for the past 38 years but now its role is more important than ever as it will be instrumental in ensuring, as much as possible, that prices remain stable. The silos at this site hold 88,000 tons of wheat and grain and over the past year, a total of 100,700 tonnes of wheat and grain were discharged from here for the local market, said Minister for the Economy, European Funds and Lands Silvio Schembri during a press conference at the Kordin Grain Terminal.

Minister Schembri also announced an investment of €4 million which covers the purchase of a new crane which will replace one that has been operating from the beginning and which will lead to a more smooth and efficient operation at the terminal. This investment will be significantly reducing the expenses that the Kordin Grain Terminal is forking out. The work on the crane is expected to start in September and will be finalised by the end of October.

Minister Schembri also spoke about the importance of storing wheat and grain during these times we are living in, especially since these two essential products were affected by the war in Ukraine. He explained that the Kordin Grain Terminal will play a crucial role in keeping prices as stable as possible in our country. “In fact, the Government will be subsidising the price that importers pay to store their products in this facility and this will allow importers to be able to buy in bulk and thus ensure more price stability,” said Minister Silvio Schembri.

This is one of a string of measures that the government is implementing to reduce the impact of the Ukraine war on the prices of most basic items or products.