tayyar.org - Indications of rising food costs

The Food Importers Association in Lebanon issued a statement following the global increase in food prices in September, reaching their highest levels in approximately four years. The rise was driven by increases in sugar by 6.1%, grains by 5.1%, and vegetable oils by 0.9%. The head of the association emphasized that global price fluctuations between 3% and 6% are normal and do not indicate a food crisis. He pointed out that supply and demand factors, as well as agricultural seasons, continuously influence prices. Additionally, he mentioned that limited increases, such as in vegetable oils, are not signs of a new crisis. Climatic factors like the "El Niño" phenomenon and geopolitical developments in the Strait of Hormuz are expected to continue exerting upward pressure on prices in the coming months.

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