The Bahrain government has earmarked a massive BD36.5 million ($96.7 million) to continue subsidising red meat and flour for 2009-2010, said Industry and Commerce Minister Dr Hassan Fakhro.

He revealed the figures while chairing a key meeting with traders in Manama. He also gave directives to draft a report detailing efforts and initiatives aimed at boosting food security in Bahrain.

The paper will update the Cabinet on key food projects, particularly planned aquaculture and poultry companies.

It will also detail efforts seeking to encourage investors to diversify meat imports from other destinations, including Uzbekistan, Turkey and Russia.

Dr Hassan Fakhro paid tribute to traders and owners of large shopping centres for their efforts to bolster food security and maintain market stability.

The minister stressed the government's keenness to consolidate the stability of the market and reduce food prices. He also vowed to continue combating trade malpractices detrimental to customers, citing cheating, monopolies and complicity.

He ordered a committee to be set up to probe fees levied by hypermarkets in exchange for displaying other traders' goods. The panel will include officials representing the ministry, the Bahrain Chamber of Commerce and Industry and other parties, he added.

According to BCCI first deputy chairman Ibrahim Zainal, Bahrain had the cheapest food basket in the Gulf.-TradeArabia News Service