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Ministerial Council Approves Up To €1.515 Million In Grants For Weather-Affected Farmers

The Ministerial Council has sanctioned grants totaling up to €1.515 million for farmers impacted by adverse weather conditions during the 2024/2025 growing season. This decision, taken on September 17 following a proposal from the Ministry of Agriculture, Rural Development and Environment, represents a significant step toward supporting the agricultural sector in challenging times.

Targeted Support For Key Crops

The approved support covers a range of crops including olives, avocados, bananas, artichokes, winter potatoes, citrus fruits, and peppers. In addition, a separate allocation will provide exceptional support to potato growers affected by the CORAL weather phenomenon. This targeted funding underscores the government’s commitment to both immediate relief and the long-term viability of the primary sector.

Accelerated Payment Schedule

Unlike previous years, when payments were made in December, the new disbursement schedule is set to roll out in phases starting within the next few days and will be fully completed by the end of October 2025. This acceleration is aimed at offering timely relief to those impacted by the extreme weather conditions.

Funding Mechanisms And Future Considerations

The financial support will be distributed through the National Funding Framework for losses from adverse climatic phenomena and, where applicable, under Regulation (EU) 1408/2013 for de minimis support. The Ministry stated, “The objective is to provide tangible support to farmers, thereby contributing to the stabilization and sustainability of the primary sector.”

With this approval, the current cycle of payments for the specified crops and losses is now complete. Any further damages incurred during the year will be evaluated independently through risk management initiatives executed by the Agricultural Production Insurance Fund.

Further Information For Stakeholders

The Ministry invites stakeholders to seek additional information by contacting the Risk Management Department of the Agriculture Sector at 22408540 or by visiting the local Regional Agricultural Offices.

Cyprus Fuel Prices Expected To Rise As Oil Prices Increase

International Oil Market Dynamics

Fuel prices in Cyprus are expected to rise gradually in the coming weeks as international crude oil prices continue to increase. Recent reports show that heavy crude prices moved from about $93 per barrel to a peak of $117 before settling near $107, reflecting continued volatility in global energy markets.

Projected Retail Impact And Stage-Wise Price Adjustments

Sabbas Prokopiou, president of the Pan-Cypriot Fuel Stations Owners Association, said these international price movements are expected to gradually affect retail fuel prices in Cyprus. A recent increase of around two cents per litre has already been recorded. Additional price adjustments may follow in the coming weeks as international fuel costs pass through the supply chain and reach the retail market.

Geopolitical Tensions And Market Reactions

Geopolitical developments have also contributed to recent price movements. Concerns about potential regional conflict initially pushed crude prices higher. In a single trading session, prices reportedly rose by about $10 per barrel. More recently, attacks targeting oil storage facilities have added further pressure to international crude markets.

Strategic Outlook And Industry Insights

Prokopiou said further increases in fuel prices remain possible depending on developments in international oil markets. However, he noted that estimating the scale of retail price adjustments remains difficult during periods of geopolitical uncertainty. Similar market patterns were observed in 2022 following the start of the Russia-Ukraine war, when international crude prices rose sharply.

Market participants, including fuel importers and the Consumer Protection Service of the Ministry of Energy, Commerce and Industry, continue to monitor developments in international energy markets.

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