Muscat – The letter, dated December 3, 2024, confirms the subsidy will be effective from May 1, 2024, for a period of one year.
As per the disclosure, the government’s decision comes in response to the significant rise in global wheat prices, with the aim of stabilizing the cost of flour in the local market.
“We would like to disclose that Oman Flour mills Company (S.A.O.G) has received a letter from the Government on 3rd December 2024, for the subsidy of wheat, for a period of one year effective from the 1st of May 2024. As Global wheat prices have seen a sharp increase the Government is keen to stabilize the prices of flour in local market,” states the disclosure on MSX.
Further details on the subsidy will be disclosed by the company in its upcoming financial statements.
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