Offshores earn $357 mln, Feta name saga hits Cyprus exports

The number of offshore registrations exceeded 23,000 with the sector contributing USD 357 mln to the economy, while a European Commission decision to allow only Greek dairy producers to use the name ‘feta’ will hurt Cyprus exports, according to the issue 153, on March 13, 1996.

Foreign exchange earnings from

Offshore boom:

the offshore industry rose 20% to USD 357 mln in 1995. From the 83 registrations in 1976, the sector had grown to 23,000, said Interior Minister Dinos Michaelides.

Feta

decision:

The European Commission proposal that the name “feta” apply only to cheese made in Greece will affect all Cyprus dairy exports that include feta, said Panicos Hadjicostas of Christis Dairies. However, he admitted that ‘feta’ or ‘fetta’ exports were far less than the primary sales of halloumi