| 7 December 2023, Thursday |

As the value of the dollar declined, did the value of commodities fall as well?

The Lebanese are expecting for all commodity prices to fall after the dollar’s exchange rate has fallen since last Friday. Nabil Fahd, the head of the Supermarket Owners Syndicate, told Sawt Beirut International that prices have been falling since last Saturday, particularly for cereals, dairy, and cheese.

He stated that the Syndicate of Food Importers will deliver new pricing rules today, and the Syndicate of Importers published a statement today announcing that firms importing foodstuffs began setting new price regulations in response to the dollar’s decrease.

In a statement, the chairman of the Lebanese Poultry Syndicate, William Boutros, also announced a drop in the price of chicken at a pace almost comparable to the rate of the dollar’s loss, emphasizing that the price drop is large and balanced, allowing customers to get all of their chicken needs.

In a phone interview with Sawt Beirut, the Secretary of the Meat Traders Syndicate, Khalil Nehme, told us that all meat prices had fallen, with the exception of lamb, whose new price has yet to be announced.

He pointed out that a kilo of beef became 240,000 Lebanese pounds, a kilo of frozen meat became between 100,000 and 110,000 LBP, and a kilo of Brazilian meat became between 200,000 LBP and 230,000 LBP.

The schedule for determining fuel prices was not released today. George Brax, a member of the Syndicate of Station Owners, briefed us about the potential of issuing the schedule between this evening and tomorrow morning, anticipating a fall in fuel prices and the price of a can of gasoline reaching 360000 LBP.

  • Sawt Beirut International