Venezuela Hikes Budget For Food Reserve

The President of the Republic of Venezuela, Hugo Chavez, has announced the approval of 262 million bolivars to purchase more products for the nation’s strategic food reserve.

The request for this allotment was made through the Ministry of Economy and Finance, but the funds will be directed to the Ministry of Food. As previously indicated by the President in his year-end speech on December 30, 2009, “the food reserves will be increased up to 60 days of use."

The commodities in Venezuela’s strategic reserve include rice, white and yellow corn, edible oils, dry powder milk, canned tuna and sardines, sugar, beans, soybeans, sorghum, and beef.