| 19 April 2024, Friday |

Food price chaos, minister demanded and merchants justified

Food importers responded with minister of economy Raoul Nehme’s request, to “reduce prices as quickly and significantly before this morning as a maximum, due to the significant decline in the dollar exchange rate.The minister stressed that “the continuation of importers and owners of commercial establishments in manipulating prices or cheating will expose them to the most severe penalties, leading to a request from the judiciary to close their establishments.”

In response, food importers  issued a statement confirming that they have started, since the early morning, a round of contacts with importers to consult and reconsider the prices of foodstuffs in light of what is actually happening at the level of fluctuations of the dollar exchange rate at the black market, however, the drop in the exchange rate yesterday was followed by a rise, so how will they deal with price regulations?

Head of the Food Importers Syndicate, Hani Bohsali, when asked by “Al-Markaziyah “   about pricing in US dollar, said:”

“The issue is not within our jurisdiction, and pricing in dollars needs a special law. As for the decision to implement it, it is up to state officials and based on discussions between the Ministry of Economy and supermarket owners to adopt the most appropriate method for the citizen, and if pricing is in dollars, then the price on the shelves will be fixed, while the payment is in Lebanese pounds according to the daily exchange rate, and this benefits the consumer and prevents price manipulation.”