A line of subsidies, guarantees and interest rate regulations has been sanctioned for business owners in the Spanish region of Murcia who must resort to financing to overcome the disruption of the supply chain following the crisis in Ukraine.
Regional industry leaders and ministers have launched the “Commission for the Assessment of the Impact of the Russian Invasion of Ukraine on Businesses in the Region of Murcia” and authorities are already trying to find new suppliers of cereals, sunflower oil and other raw materials in South America to make up for the shortfall generated by the war.
Experts have previously warned that the agricultural sector in Spain is facing a supply crisis, as the vast majority of fertilizers and livestock feed are imported from these countries. Apart from that, imports are not the only concern; more than 70 companies from Murcia export to Ukraine and Russia, representing a revenue of 47 million euros for the Region.
Fruit and vegetable exports to Russia have already fallen by 78% and 36% respectively. In addition, global instability could lead to an increase in lemon exports from Turkey, South Africa or Argentina to Russia and Ukraine, which would be extremely detrimental to the market in the Region of Murcia. .