Tel Aviv, Oct. 9 -- In a move described as "historic," Israel's Ministry of Agriculture and Food Security will provide support totalling approximately 65 million Shekels (USD 19.7 million) per year to fish farmers in Israel.

An outline reached in an inter-ministerial agreement between the Ministry of Finance and the Ministry of Agriculture, with the support of farmers' organisations, will complete the transition from protective tariffs to direct support and ensure long-term stability for growers and the industry. At the same time, the opening of the market is expected to benefit the consumer, increase competition, and lead to a reduction in the cost of living, said the ministries.

The agreement completes the industry's transition from i...