Economy March 18, 2022 | 11:49 am

Dominican Gov. US$63.0M aims to calm grain prices

Santo Domingo.- The Government announced yesterday the disbursement of 3.47 billion (U$63.04 million), of which three billion pesos will be to subsidize imported wheat, corn, soybeans, flour and vegetable fat, and 475 million pesos for the production of rice and the purchase of certified seeds.

With the subsidies, the authorities seek to control the prices of products derived from these cereals and that the effects of international increases do not pass on to the consumer.

The small and medium-sized flour manufacturers said they do not know the price at which the millers are going to sell them, so they still cannot determine if there would be any variation in the sale prices of their products.

Through the president of the Flour Processors Multiple Services Cooperative, Fátima Estepan, local media were able to confirm that the subsidy consists of a 20% discount on the price of imported wheat to millers.

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