Will the price of bread “fly” again?

The head of the Syndicate of Wheat Importers in Lebanon, Ahmed Hoteit, confirms that the term of the World Bank loan contract ends on May 30, 2024, but the wheat imported from the loan is sufficient until approximately the month of August.

He added, in an interview with the MTV website: “It seems that there is no intention to renew the loan, so after the month of August we may witness the liberalization of the price of wheat and bread. Therefore, the price of a bundle may rise from about 45 thousand liras, to about 68 thousand liras or 70 thousand liras.”

For his part, Antoine Seif, head of the Syndicate of Kiln Owners in Mount Lebanon, explains that the amount of flour supported by the World Bank is sufficient to last until about October 1, 2024.

He said, in an interview with the MTV website, “It is not clear what will happen after this date, so far, as the Minister of Economy in the caretaker government, Amin Salam, says that the loan may be renewed, or the state may support suppliers who need support, through social affairs.” And through compensation for some citizens.”

Saif asserts, “If subsidies on wheat are completely lifted, the price of a kilo of bread will become about a dollar, but we will study developments in the price of fuel, wages, and taxes, as all these details are included in the cost.”

On the other hand, Hoteit explains “the decision of the competent authorities to strictly implement the traffic law regarding the truck’s load according to its license,” and says: “Instead of 30 tons, the truck has the right to carry 10 tons, that is, only about a third.”

He continues: “This matter will lead to a shortage of trucks that unload wheat from the existing ships, and consequently, there will be delay fines on the ships with a shortage of trucks, and these fines will not be equal,” hoping that the outcome of the meeting will be between the Minister of Public Works and the Minister of Transport in the caretaker government. Ali Hamiyah and the transport companies are positive.”