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WHEAT SUPPLIES

Wheat stocks enough to last ‘20 days to a month,’ Association of Mills president says

BEIRUT — Stocks of wheat subsidized by Banque du Liban are enough to last “20 days to a month at most” president of the Association of Mills in Lebanon Ahmad Hoteit said on Thursday in a radio interview with Voice of Lebanon.

Here’s what we know:

    • Hoteit said that wheat imports, namely “three ships,” were delayed by BDL not opening lines of credit, which it had promised to do “as soon as possible.” He added that the current situation would “inevitably” lead to an increase in bread prices next week.

    • Lebanon’s food security has been shaken by the Russian invasion of Ukraine. Economy Minister Amin Salam issued a statement on Wednesday intending to reassure the public about the condition of Lebanon’s wheat reserves, which were jeopardized by Russia’s invasion of Ukraine. Nonetheless, the minister expressed concerns over price hikes amid global fluctuations of raw material prices, notably fuel.

    • Fuel prices in Lebanon have been affected by global oil price fluctuations. On Tuesday, the price charts regularly published by the Energy Ministry increased the price of 20 liters of 95- and 98-octane gasoline by LL5,000, rendering them LL475,000 and LL486,000, respectively. Meanwhile, the price of a cylinder of household gas rose to LL329,000, up by LL10,000. Prices published on Thursday have not changed aside from a LL19,000 decrease in the price of 20 liters of diesel, setting it at LL533,000.

BEIRUT — Stocks of wheat subsidized by Banque du Liban are enough to last “20 days to a month at most” president of the Association of Mills in Lebanon Ahmad Hoteit said on Thursday in a radio interview with Voice of Lebanon.Here’s what we know:    • Hoteit said that wheat imports, namely “three ships,” were delayed by BDL not opening lines of credit, which it had promised...