Lebanon
The Lebanese are following with concern the developments of the Russian war on Ukraine, regardless of its political repercussions that affected the government of President Najib Mikati, against the backdrop of the opposition of the Shiite duo Hezbollah and the Amal movement to Lebanon’s position at the United Nations condemning the Russian invasion of Ukraine. What worries the Lebanese in the first place is the living and economic repercussions In the event of a prolonged war, warnings of the outbreak of a food crisis threaten several Arab countries, including Lebanon.
Lebanon imports about 650,000 tons of wheat annually, eighty percent of which is from Ukraine, and the current stock of wheat is not enough for 45 days. With the difficulty in finding an alternative, the government decided to form a ministerial committee to address the food security crisis and protect markets from monopoly and price manipulation.
The Director General of Grains and Sugar Beets at the Ministry of Economy, Eng. Gerges Barbari, reassured, revealing that contacts are underway with France to import wheat from there, knowing that the cost will rise if it is imported from the United States or Latin American countries, especially after the rise in oil prices, which is reflected in the cost of Transfer of goods between countries.
Oils: pandemonium and monopoly
And the matter will not stop with Russian and Ukrainian wheat, but will go beyond it to edible oil, which Lebanon also depends on Ukraine to obtain 60% of. Before traders, hoping to achieve additional profits, as it always happens in such cases.
Also, the repercussions of the rise in oil prices began to weigh on the Lebanese, as the rise in fuel prices was reflected in various food and consumer goods, especially subscription electricity bills from private generators, which will prompt many families to cancel their contributions in light of the collapse of the national currency and the decline in purchasing power.
The representative of fuel distributors, Fadi Abu Chakra, announced that there is no fuel stock in Lebanon for more than 4 or 5 days.