Fresh bread in a Beirut bakery on July 1, 2020. (Credit: AFP)
BEIRUT — The prices of Lebanese bread packets slightly increased on Friday by the Ministry of Economy after they were last modified in early September, a measure officially justified by various factors, including the increase in fuel prices after the lifting of Banque du Liban's subsidies on gasoline, the dollar and Lebanese lira exchange rate on the parallel market, or the rise in global wheat prices due to Russia's war on Ukraine.
According to this new pricing, announced in a press release, a small package of Lebanese bread will now weigh 340 grams and will be sold for LL10,000, against the previous rate of LL10,000 for 365 grams. The medium package will weigh 835 grams and will be sold at LL17,000, compared to LL16,000 for the 800 grams package previously. Large packets of bread will weigh 1,107 grams for LL21,000, compared to LL20,000 for 1,065 grams.
Despite the agreement on a $150 million World Bank loan to ensure Lebanon's food security through its continuous supply of wheat for nine months and to avoid any increase in the price of bread, the loan has yet to be disbursed.
Amended by the Finance and Budget Committee and approved by the World Bank in early august, the text was finally adopted by Parliament on Oct. 18, signaling its entry into force.