Food Prices Should Now Start Decreasing In Lebanon

Economy Minister_ Prices Will Start to Decline Next Week
LAU

Lebanese citizens should start to notice a decline in the prices of food products as soon as this week, according to the Minister of Economy and Trade, Raoul Nehme.

In a talk with Al-Joumhouria, Minister Nehme predicted that the Lebanese should “start feeling the difference in the prices of basic food commodities within a week, at the latest.”

The minister explained that the decline in the prices of food products depends on the speed at which the products will be unloaded from the ports.

He noted that some companies pay their dues “as soon as the goods arrive at the ports,” which indicates a faster release to the local market in such cases.

Ultimately, “this will depend on the agreements concluded with external companies. We have drowned under the orders and will fulfill all of them,” Nehme stated.

On that note, the official also predicts that clearing the next shipments at the ports will be “easier and smoother” than this first time, wherein the ministry requested necessary paperwork from the companies to process the first exchange.

One essential food commodity that recently made the news in Lebanon is bread. On Tuesday, June 2nd, the Economy Minister announced a new weight/price ratio for bread sales in Lebanon.

After a prolonged meeting with the Syndicate of Bakery Owners and in light of a study conducted by the ministry on the matter, Minister Nehme decided to fix bread prices as follows:

-A large-size pack of white (pita) bread (900g): No higher than 1,500 LBP.
-A medium-size pack of white (pita) bread (400g): No higher than 1,000 LBP.

As per the decision, pita bread produced by major bakeries in Lebanon must strictly conform with the above standards.

View this post on Instagram

Beauty in an oven… up in the village!

A post shared by Anthony Rahayel (@nogarlicnoonions) on

But as it seems, not all bakeries were made aware of this development.

The Syndicate of Bakery Workers of Beirut and Mount Lebanon just released a statement on Wednesday afternoon, saying its members were “surprised” by the new standards that Minister Nehme specified.

The statement said that the Syndicate had not been made aware of the fact that the meetings to study the pricing of bread had been taking place recently.

In response, the Syndicate urged the government to “support the basic and primary materials that go into making bread, instead of reducing the weight of a bundle of bread in these difficult circumstances and high prices that affect everyone.”

*Photo used for illustrative purposes only.