BEIRUT – The Economy Ministry released new higher bread prices on Thursday. The increased costs can be attributed to the removal of subsidies on sugar and yeast.
Here’s what we know:
• The Economy Ministry’s statement specified that the price of small bread bundles, the minimum weight of which increased by 10 grams to reach 360 grams, will increase by LL500 to reach LL6,000. Medium bundles, the weight of which is no less than 825 grams, will be sold at LL10,000. Family-sized bundles decreased significantly in size to a minimum of 1,125 grams from the previous weight of 1,750 grams while their price increased by LL2,000 to reach LL13,000.
• The price increase is attributed to the lack of subsidies from Banque du Liban on sugar and yeast, the Economy Ministry said in a statement on Thursday.
• The hike in prices comes after a period of uncertainty regarding wheat supply and bread availability in the wake of the Russian invasion of Ukraine, on which Lebanon depends for its wheat imports.