We’re barely two months into 2022 and prices for pretty much anything and everything have risen to unprecedented levels.

Malta’s leading commercial undertakings and economists are attributing the increase in the price of most commodities, food, and daily needs to an increase in freight charges and other factors – COVID included, of course.

Food has been particularly affected, rising at the highest rate in the last four years and not likely to start falling before next October. Supermarkets are even estimating a whopping 15 per cent price increase across the board.

In one case, it was reported that the freight costs of a container, previously priced between €2,000 and €3,000, have now shot up to an insane €17,000, resulting in a 500 per cent increase in the price of certain commodities.

Despite these issues, however, Virtu Ferries has gone against the trend and maintained freight costs at pre-COVID levels.

But wait, there’s more!

In order to assist SMEs, this company has actually lowered freight costs for small and medium sized commercial vehicles by introducing favourable schemes.

Importers sourcing products from Italy and, in particular, Sicily, have not seen an increase in freight charges. Therefore it’s only natural that retailers are taking full advantage of the Virtu Ferries offers and switching to stocking up from virSicily to reduce their cost of carriage.

Hotels and restaurants are also resorting to importation from Sicily to counter the local increase in prices of food products.

Virtu Ferries is now operating two vessels with daily voyages at convenient timings multiple times a week. Voyage frequency is particularly important for importers as it allows for warehousing at no cost in Sicily and the important of frequent minimum orders, thus reducing financial costs.

Cutting costs in the current situation is essential for repositioning post COVID.