Maltese families spent €557 million on food in 2014

In 2014, final household consumption expenditure on food in the domestic market was estimated at €557 million.

On the occasion of World Food Day, which falls on Friday, the NSO has published a set of figures relating to the food sector in Malta, with a focus on local agricultural production and the economic aspects of consumption.

This year, the Day’s theme devised by the United Nations is: ‘Social Protection and Agriculture: Breaking the cycle of rural poverty’.

In 2014, the total agricultural production was estimated at 143,040 tonnes, an increase of 2.1 per cent over 2013. The production of vegetables amounted to 74,410 tonnes, an increase of 0.6 per cent over the previous year and contributed to 52.0 per cent of the total final production.

During 2014, food expenditure incurred by private households was estimated at €557 million, an increase of 1.2 per cent over 2013. The share of household expenditure on food was estimated at 10.8 per cent of the total private final expenditure in the domestic market.

Last year, there was an increase in household spending on most food items, ranging from 1.1 per cent on sugar, jam, honey, chocolate and confectionery items to 7.0 per cent on fish when compared to 2013.

Food inflation measured by means of the 12-month moving average rate was 0.5 per cent, while the annual rate was 0.1 per cent. Food prices were higher mainly in respect of preserved and processed fruits, margarine and butter, chocolate, take away food and processed vegetables.

Current estimates for 2014 indicate that the value of imported foodstuffs stood at €514 million, an increase of 0.3 per cent when compared to 2013. Increases were recorded in most food products, mainly meat (5.6 per cent) and milk, cheese and eggs (3.6 per cent).

Malta’s food exports declined by 7.0 per cent, to an estimated value of €197 million when compared to 2013. This was mainly due to a decrease in the exports of cereal products and fish, by 48.0 and 5.8 per cent respectively