A Clare Member of European Parliament is warning the Government to prepare for “massive” increases to food prices in the coming months.
It comes as EU leaders continue to discuss measures aimed at supporting households through the ongoing conflict in the Middle East.
Roughly one-third of the world’s key fertiliser chemicals pass through the now blockaded Strait of Hormuz in the Persian Gulf and while the increase in fuel prices was already expected to impact food production costs, many lobby groups and experts fear the worst is still to come.
EU leaders are holding ongoing discussions on measures to relax electricity costs and allowing governments more flexibility to support households and businesses.
At home, the coalition is expected to sign off on the details of a fuel support package tonight, with a mix of excise cuts and extended fuel allowance payments for households, along with diesel rebates for hauliers.
Scariff-based Independent MEP Michael McNamara says the Government needs to put a plan in place for the food production shock to come.
One of the region’s longest serving politicians is urging the state and the European Union to ensure supports are targeted and that a long-term energy supply is guaranteed.
Ireland South Fianna Fáil MEP Billy Kelleher says it’s crucial consumers are supported through long-term inflation.
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