President Luis Abinader announced late last week RD$3.5 billion in subsidies to imported wheat, corn, soy, and vegetable oils. These raw materials are the basis of much of the basic food basket consumed in the Dominican Republic. At a time when Small bread makers, for example, are not sure what the major flour distributors will be charging them, the government announces a 20% subsidy to the grain importers.
Minister of Industry and Commerce Victor (Ito) Bisono explained his ministry has reached an agreement with the flour mills that commit to provide a stable price for their products for the next 45 days. Agriculture Minister Limber Cruz announced programs to subsidize rice production with about RD$100 per 100 kg of field rice, RD$1.5 billion subsidies for fertilizers and the RD$10.5 billion for the Agricultural Bank lending at 0% interest rate.
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Diario Libre
21 March 2022