Stabbiltà: Ensuring stability in Malta's food market

In the face of global economic uncertainties - spurred by events like the COVID-19 pandemic, the Russia-Ukraine War, the conflicts in the Middle East, and Brexit - Malta, like many other nations, grapples with the challenge of stabilizing food prices.

As a country heavily reliant on imports, Malta's vulnerability to price fluctuations is particularly acute. In response, the Maltese Government has undertaken various measures to mitigate the impact, including subsidies and aid programs aimed at supporting families and businesses facing financial strain.

One of the government's most recent initiatives, Stabbiltà, spearheaded by the Economy Ministry, targets the stabilisation of food prices. Launched on 1 February, Stabbiltà requires major importers and retailers to slash the recommended retail prices of staple foods by a minimum of 15% compared to 31 October 2023 levels.

Furthermore, these reduced prices are to be maintained for the coming months until the announcement of the Government’s Budget for 2025. The selection of staple categories, 15 in total, was meticulously curated, focusing on items most susceptible to inflation and consumed the most by the Maltese, especially those with limited financial means.

The implementation of Stabbiltà was preceded by extensive negotiations between the Ministry, key stakeholders, and major food products importers and retailers. The resulting agreement reflects a shared commitment to shouldering the burden of absorbing inflationary pressures, thereby contributing positively to the community. This was not an easy task, and what has been achieved here was rather historic.

Once the commitment with the major importers and retailers was secured, the Ministry wanted to extend the participation in the initiative to all other small and medium-sized businesses selling food products. By participating in this alliance, on the one hand the Government would ensure a better outreach of this initiative, whilst participating businesses reap the benefits for their own business and customers. Notably, to date, over 473 outlets across Malta and Gozo have enthusiastically embraced the initiative, offering more than 400 food products at reduced RRPs.

Recognising the challenges faced by smaller businesses, the Ministry has also introduced a grant scheme to support their participation in Stabbiltà. Eligible participants, with annual sales not exceeding €800,000 in 2022, stand to receive a monthly grant of €125 under certain terms and conditions. This financial support aims to level the playing field and ensure that businesses of all sizes can contribute to stabilizing food prices for the benefit of consumers.

To facilitate public awareness and participation, an extensive information campaign has been launched in collaboration with servizz.gov. The dedicated portal, stabbilta.gov.mt, serves as a user-friendly hub for enrolling in the initiative, accessing detailed information, and identifying participating outlets. Furthermore, ongoing efforts through various media channels will ensure that the public remains informed and engaged throughout the initiative's duration.

Stabbiltà stands as a testament to the government's unwavering commitment to safeguarding the well-being of its citizens and fostering economic resilience. By ensuring stability in food prices, this initiative not only alleviates financial strain on households but also supports the viability of businesses in the food sector.

For further information, individuals are encouraged to visit ekonomija.gov.mt or contact the freephone helpline at 153.