| 27 November 2022, Sunday |

Union of Bakeries Syndicates: To put an end to the weekly loaves’ price farce

The Federation of Bakeries Syndicates in Lebanon clarified that the sharp fluctuations in the prices of materials used in the loaf industry, threaten the continuation of bread production, because more than 70 percent of these materials are paid in cash in US dollars according to the market price, including: nylon, sugar and yeast, Especially the diesel used for the work of the bakeries, and the prices of the furnace insurance policy are paid in fresh dollars, in addition to the high price of international wheat, which amounted to 400 US dollars per ton, which indicates the high prices of flour, and the cost of transporting it to the bakeries now constitutes 25 percent of the price of flour, Also, transportation and water insurance fees, which are paid in Lebanese pounds, have doubled.
The union pointed out in a statement that in light of this difficult reality, bakeries and mills bear huge financial losses that are difficult to continue to bear in light of the economic conditions that the country is going through, which is worsening, considering that this matter requires radical treatments,to be able to continue securing the citizens’ loaf
It demanded an end to the farce of the weekly price of loaf according to the agreed platform, because things as they are do not bode well, calling on the General Assembly to convene within the next two days to take appropriate steps in this regard.