| 26 May 2024, Sunday |

Lebanese are stockpiling food in anticipation of rising food prices!

In light of a hesitant and difficult economic situation, the Lebanese are concerned about the effects of the Ukrainian-Russian war and the global fuel crisis, on the one hand, and the instability of the dollar exchange rate in the parallel market, on the prices of food commodities and their loss from the Lebanese market, which has prompted some to stockpile materials as a proactive process that protects them.

From the rise in the value of the dollar, to the scarcity of imported foodstuffs and goods, and the exorbitant high prices of commodities, to the threat of more electrical rationing, leading to a high rate of unemployment and poverty, the Lebanese people have become besieged by crises that will be difficult to overcome in the short term, given the obstruction.

Nabil Fahd, the head of Lebanon’s Supermarket Owners Syndicate, reassured citizens through Sawt Beirut International that everything is under control and there is no need to panic.

Fahd stated that there is no comprehensive change in prices, and that the current period is witnessing commodity price stability, with the exception of commodities imported from Russia and Ukraine, such as oil and wheat, emphasizing that claims reported in some media about insane rises in food commodity prices have been exaggerated.

  • Sawt Beirut International