2024-07-04 03:35:57
It seems that the days of flour subsidies in Lebanon have begun to count down, as they will continue until the end of September, but will begin to decline at the end of August, amid information that the price of a loaf of bread will rise steadily, reaching 55 thousand liras.
The head of the Northern Bakery Owners Syndicate, Tarek Al-Mir, explained in an interview with the “Lebanon Debate” website that the main reason for the increase in the price of a loaf of bread, while the subsidy was not increased, “is the increase in global wheat prices, as a ton of subsidized flour today is around 350 US dollars.”
He stated that “the increase in the price of wheat affected all bakery products, especially since the prices of yeast and sugar also increased somewhat.”
As for the possibility of renewing support for bread, he referred to talk of this kind that revolves around renewing support, but the matter ultimately depends on the World Bank and the Lebanese government, noting that with the lifting of support, a loaf of bread will be priced in dollars, where its cost will become between 80 and 85 US cents, because flour is priced in dollars, so its price will become between 70 and 75 thousand liras.
He pointed out that with the lifting of support, speculation and the problem of importing from abroad begin, and thus the price of the bundle fluctuates.
Regarding the possibility of war and Lebanon’s ability to meet consumer demands, Al-Mir stressed that Lebanon does not have sufficient flour reserves, as the existing storage level does not exceed a month and a half, and if the war continues, famine will inevitably occur 15 days after the stock runs out, noting that in the July War, if the war had continued for an additional 5 days, famine would have occurred.
He stressed that the main reason for the lack of sufficient stock is due to the destruction of wheat silos in the Beirut port explosion and the lack of other silos to store wheat.
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2024-07-04 03:35:57