In the midst of their threat to stop making hobz tal-Malti I believe that the bakers may have overlooked the theory of "supply and demand".

Whether or not they like to accept them, the facts are thus: Wheat production has declined as a result of recent poor harvests in the arable regions of the world; there exists an ever-increasing demand for wheat from so-called "emerging economies" that once subsisted on other staple diets; and thirdly, the European Union - in their infinite wisdom - introduced a measure within the Common Agricultural Policy a decade ago known as "Set Aside", whereby European arable farmers were paid a subsidy to take their land out of production and instead to grow nothing more useful than common weeds.

This week one tonne of British Milling Wheat is available to purchase from the farm for £164. In the corresponding week of last year that same tonne could have been obtained for £84. One does not need to be Einstein to grasp the reality that things are likely to get worse before they get better.

I wholeheartedly agree with Karmenu Micallef of the Bakers' Cooperative, when he says that bakers "have the right to cover their costs" by increasing the price of a hobza tal-Malti. However, when he goes "cap in hand" to the government asking for an extra subsidy of Lm11,000 per week (£575,000 per annum) he should understand that governments do not actually have any money of their own; the funds have to come directly from the Maltese taxpayers, who have worked hard in order to make their contribution.

Taxpayers are surely entitled to ask whether the hobz should in fact simply be allowed to find its true price level within a free market economy.