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Supply Chain

Greece Says It Can Boost Sunflower Oil Production, If Needed

Greece's agriculture ministry said that sunflower oil production could be increased if needed by producing more for household consumption rather than for biofuels as rising prices add to record inflation.

So far, Greece has no food product shortages, the ministry said in a statement following a ministerial meeting chaired by the prime minister.

Greece imports sunflower oil from Ukraine. It estimates its imports of soft wheat from Ukraine and Russia at roughly 250,000 tonnes, about 30% of its total wheat imports.

'The agriculture minister noted that there is always a possibility of increasing domestic production, while improving the distribution between biofuel use and domestic use can further help increase the quantities available for consumption,' the ministry said, without providing further details.

Stockpile

The government has asked suppliers, such as supermarkets and other food retailers, to declare stockpiles of products including flour, grains, fertilisers, animal food, sunflower and other vegetable oils.

Consumers hoarded over supply concerns in the wake of the war in Ukraine.

Greece's annual consumer inflation accelerated to 7.2% in February, its highest level in 25 years because of surging costs for energy, housing and transportation, official data showed.

Greece has asked the European Union to approve grants for soft wheat and corn crops for the 2023-2027 period as an incentive for Greek farmers.

Elsewhere, Ukraine has sown the first 150,000 hectares of spring crops amid the Russian invasion which could sharply reduce the sowing area, the country's deputy agriculture minister said last week.

News by Reuters, edited by ESM – your source for the latest supply chain news. Click subscribe to sign up to ESM: European Supermarket Magazine.

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