This year’s theme for World Food Day, which takes place this coming Sunday, the 16th of October, is “Food Prices – From Crisis to Stability”.

Consumption expenditure on food incurred by private households in the past five years. In 2010, food expenditure was estimated at €579 million, an increase of 1.4 per cent over 2009. Last year, food consumption expenditure was estimated at 13.4 per cent of the total final consumption expenditure.

In 2010, there was an increase in household spending on oils and fats (+3.8 per cent), dairy products (+3.7 per cent), and fruit (+1.3 per cent) when compared to 2009. On the other hand, there were drops in expenditure on fish, meat and vegetables of 1.9 per cent, 0.7 per cent and 0.5 per cent respectively.

Last year, the RPI 12-month moving average inflation rate of food was 1.02 per cent, while the annual rate as at December was 5.06 per cent. Food prices were higher in respect of fish, beef and pork, vegetables, potatoes and milk.

Current figures for 2010 put the value of imported foodstuffs at €399.6 million, up by 1.7 per cent when compared to 2009.

Increases were recorded for sugar products (+35.6 per cent) and fruit and vegetables (+7.0 per cent).

Malta’s food exports advanced by 94.9 per cent, to an estimated value of €135.7 million, over 2009. This was due to a significant increase recorded in fish exports (+371.8 per cent).

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