Historic Reform: Israel Boosts Fish Farming with $19.7M Annual Support

Israel's Ministry of Agriculture and Food Security to provide fish farmers with $19.7 million annually, transitioning from tariffs to direct support, aiming for industry stability and consumer benefits. The market opening is expected to increase competition and reduce living costs.

In a landmark move, Israel's Ministry of Agriculture and Food Security announced an annual support of approximately 65 million Shekels, equivalent to USD 19.7 million, for the country's fish farmers. This initiative marks a shift from protective tariffs to direct support, designed to bolster long-term stability for the fish farming industry.

A collaborative agreement involving the Ministry of Finance and the Ministry of Agriculture, with backing from farmers' organizations, will implement the transition. This economic strategy is expected to enhance market competition and support consumer interests by potentially lowering living costs.

The agreement details a structured financial aid package for tilapia, carp, and mullet farmers, providing 40 million Shekels per year from 2026 to 2029. Tariffs will be phased out by 2029, and financial support will decrease gradually by 2032, reflecting a broader strategy for sustainable agricultural development.

(With inputs from agencies.)