The Head of the Food Importers Syndicate Hani Bohsali confirmed that prices are actually witnessing a sharp drop, and the consumer will touch these changes within the next few days by a rate ranging between 10-20 percent.
On the other hand, Bohsali indicated that lifting the subsidy may lead to a rise in prices again. He said that “the equation for the low exchange rate of the dollar on the black market and the expected lifting of fuel subsidies will make the price balance equal, pending clear government steps to stabilize prices.”
The Minister of Economy and Trade, Amin Salam, confirmed that the ministry has put into effect a mechanism to reduce the prices of basic commodities. It stressed that “the ministry will not tolerate this issue and will be strict in controlling prices, and violators will be held accountable and punished, and harsh measures will be taken such as closing shops”.
Salam also announced that some mechanisms have been put at the disposal of citizens, most notably the Consumer Protection Lebanon application, which allows citizens to report any complaint or objection. There is also a WhatsApp line that allows any consumer to photograph and send information to the Ministry directly.
Since the exchange rate of the Lebanese Lira has risen against the dollar from 20,000 to 13,000 LBP currently, the Director General of the Ministry of Economy, Muhammad Abu Haidar, explained to Sawt Beirut International (SBI) that the rise in the exchange rate of the dollar, is always reflected an increase in the prices of consumer goods, but when the exchange rate decreases, citizens do not touch this decline in prices.
Therefore, a meeting was held with the Syndicate of Food Importers and it was agreed to launch a new price for materials and goods to keep pace with the decline in the exchange rate of the dollar, provided that importers will deliver goods to the supermarkets, starting tomorrow, with a new list of prices in Lebanese pounds at the current exchange rate, provided that the latter adjusts all prices in its point of sales.
In this context, SBI obtained the new reduced-price lists for some foodstuffs that will be adopted starting tomorrow, including poultry, which witnessed between 3-18 percent drop in its prices and meat, which decreased by rates ranging between 20 to 23 percent, and dairy products, whose prices have declined by 5 to 22 percent.
Poultry: old price (LBP) new price (LBP)
Chicken: 35,499, 31,999 LBP
Chicken breast: 76,999, 65,999 LBP
Chicken thighs: 28,999, 23,999 LBP
Meat: the old price (LBP) the new price (LBP)
Minced meat: 130,000, 100,000 LBP
Kafta: 140,000, 110,000 LBP
Kabab: 140,000, 110,000 LBP
Beef Stake: 155,000, 120,000 LBP
Intercote: 175,000, 140,000 LBP
Fauvelle: 200,000 160,000 LBP
Fillet: 350,000, 270,000 LBP
Habra: 150,000, 115,000 LBP
Dairy products: the old price (LBP) the new price (LBP)
Labneh (400g): 28,500, 24,000 LBP
domestic Labneh (500 g): 40,000, 35,000 LBP
Milk (400g): 14,000, 12,500 LBP
Fresh milk (1 liter): 24,500, 20,500 LBP
Akkawi cheese (kg): 124,000, 100,000 LBP
Double Cream (kg): 112,000, 95,000 LBP
Halloumi (kg): 135,000, 119,000 LBP
The Association of Banks in Lebanon reminded that the deadline for benefiting from Circular 158 is end of September.
It asked those who wish to take advantage of the possibility of withdrawing $400 in cash per month and its equivalent in pounds at the exchange rate of 12,000, to go to their banks and request to benefit from the circular.
