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Government allocates 70 million euros to sectors hit by fuel price surge
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The French government announced a 70 million euro support plan on Friday evening for road transporters, fishermen, and farmers hit by energy price hikes from the Middle East conflict. Valid for April and renewable monthly, it provides targeted sectoral aid without worsening the public deficit. Sector reactions are mixed.
Prime Minister Mostafa Madbouly held a high-level meeting at Obour Wholesale Market on Saturday to review food supply conditions, market operations, and government efforts to stabilise prices. He stressed the centrality of developing wholesale markets to regulate commodity flows and ensure price stability. Cairo Governor Ibrahim Saber noted the market has cut post-harvest losses to 3-5%, saving EGP 1.2 billion annually.
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A parliamentary committee has urged the government to dynamically adjust import duties on edible oils based on domestic production levels to shield farmers from cheap imports. India imports 56% of its edible oil needs. The panel also proposed specific safeguards for palm oil imports.
Global fertilizer prices are up 22.57% since before the Middle East war began on February 28—building on an initial 7.5% rise through early March—according to Bloomberg's Green Markets index. The Strait of Hormuz closure disrupts 45% of world fertilizer trade. Colombia's farmers face escalating costs, prompting a government subsidy.
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Colombia's Ministry of Agriculture, led by Viceminister Geidy Ortega, held a working session with rice producers from Norte de Santander to address requests and share progress on support measures. Entities including UPRA, ADR, ICA, FINAGRO, and Banco Agrario participated, along with local secretariats. Advances in programs like FAIA and direct aid were highlighted.
The conflict between Israel and Iran affects Ethiopia through global markets, currencies, and supply chains. With Ethiopia importing all its fuel, rising oil prices strain dollar reserves and household budgets. Everyday costs for transport and food are climbing as a result.
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Anthony Kinoti Mugambi has transformed 20 acres of arid land in Kathuura, Kiagu, Central Imenti, Meru County into a dragon fruit farm called Gravity Farms. He began trials in 2012 and harvested first fruits in 2020 after overcoming challenges. The farm now grows multiple varieties and employs 10 people.
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