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Panayiotou stresses need to tackle drought in agriculture at EU Council

Minister for Agriculture, Maria Panayiotou, talked about the effects of drought on Cyprus, as well as the measures that the EU can take to support the agricultural sector across Europe, and presented the recent joint statement by the MED9 on the issue, during the Agriculture and Fisheries Council of the EU held in Brussels.

During a discussion on the state of agricultural markets in the EU, Panayiotou referred to the significant impact that a prolonged drought has had on Cyprus, resulting in significantly reduced yields for irrigated and non-irrigated crops, the Ministry of Agriculture, Rural Development and Environment said in a press release on Wednesday.

The Minister, the press release adds, “pointed out that, due to limited water availability in dams, water supply for agricultural purposes has been reduced by 33.7% for 2024, while the forecasts for the following years are not favourable.”

Panayiotou called on the European Commission to activate the agricultural reserve to provide support to affected farmers, but also to further simplify support measures related to water management under the Common Agricultural Policy.

During the meeting, the Minister also presented the joint statement on the impact of drought on the primary sector, which was issued by the Ministers of Agriculture of the nine Mediterranean EU Member States (MED9) during a recent meeting in Cyprus.

Panayiotou referred specifically to the need for a collective response to this phenomenon that threatens food production and the social fabric of rural areas in the EU and pointed out that the joint statement reflects the practical commitment of the Mediterranean Member States to find solutions that will allow sustainable water management and will be included in EU policies.

According to the press release, the joint communication of the MED9 received the support of other Member States, in addition to the countries that had signed it in Cyprus.

During a working lunch, Professor Peter Strohschneider presented his report on the results of the strategic dialogue on the future of agriculture, which was presented in early September at a joint press conference with European Commission President Ursula von der Leyen.

Panayiotou said she supports the need to further target support for farmers, with a focus on small and medium-sized farms and young farmers, as mentioned in the report. She also stressed the importance of promoting new technologies and innovation in agricultural production.

She also noted that the proposal to create two funds independent of the CAP, such as the fair transition fund and the nature restoration fund, should not limit appropriations which will be available through the next CAP in the future.

The Agriculture Minister said that Cyprus agrees with the proposed reform of the agricultural reserve, pointing out the need for a more flexible crisis management framework that will provide adequate support to farmers and allow for faster and simplified procedures, adapted to local needs and specificities.

Greek Retail Powerhouse Expands Into Six Strategic International Markets

Greek retail titan Jumbo has announced an ambitious expansion strategy that positions the company to extend its international footprint beyond its established strongholds in Cyprus and Southeast Europe. In a strategic agreement with the Balfin Group, the retailer is set to penetrate six new markets, including Ukraine, Georgia, Armenia, Azerbaijan, Kazakhstan, and Uzbekistan.

Strategic Global Expansion

The agreement builds on the existing cooperation between Jumbo and Balfin Group, which previously supported the retailer’s expansion into markets including Albania, Kosovo, Bosnia and Herzegovina, Montenegro and Moldova. According to the company, the next phase of expansion will include a greater degree of local operational management across the new markets.

Enhanced Logistics And Supply Chain Capabilities

To support the expanded international network, Balfin Group is also developing a new central logistics hub in China. The facility is expected to strengthen sourcing, warehousing, transportation and distribution operations across the Caucasus region, Central Asia and Ukraine. Previously, Jumbo relied primarily on logistics infrastructure based in Greece to support franchise operations across Southeast Europe.

Sustainable Growth And Robust Financial Foundation

Alongside its franchise expansion strategy, Jumbo continues focusing on organic growth across existing markets. The retailer currently operates 89 physical stores, including 53 in Greece, six in Cyprus, 10 in Bulgaria and 20 in Romania, in addition to its e-commerce operations. A new store in Baia Mare is expected to open by the end of October.

Jumbo also operates 46 franchise stores across seven countries, including Albania, Kosovo, Serbia, North Macedonia, Bosnia and Herzegovina, Montenegro and Israel. According to the company, its expansion strategy continues to be supported by strong liquidity levels and the absence of bank borrowing.

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