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Government to implement subsidy program to compensate bakers

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Posted: Friday, June 3, 2022. 1:44 pm CST.

By Zoila Palma Gonzalez: Today, Minister of Agriculture and Food Security, Abelardo Mai announced that the Government will implement a subsidy program that will compensate bakers for the revenues they forego as a result of the decision not to increase the controlled price of bread.

“The government recognizes and accepts that production costs have increased.  In order to maintain the price of a 16 oz loaf of bread at current levels, the government will implement a direct subsidy program designed to compensate the bakers for revenue they will forgo as a result of the decision not to increase the control price,” Minister Mai said.

The Minister noted that the program will feature direct payments to bakeries by the government and will be instituted in an equitable manner that will ensure that small bakeries benefit from a fair share of the subsidy in line with their output.

The rate of the subsidy will be $0.25 per loaf with flour purchases being the basis for calculating disbursement levels for specific bakeries.

“The program accepts the data submitted by the bakers indicating a conversion rate of 120 loaves per sack of flour. The subsidy program will run from June 2022 to December 2022,” Minister Mai added.

In addition, The Minister says that government believes that this program will bring significant cash flow relief to the industry and provide the needed incentive for bakeries to keep supplying the 16 oz product.

 

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