Bahesali: Falling oil prices will eventually affect food costs
The Food Importers Syndicate confirmed that the decrease in oil prices and the easing of tensions in the region, such as the cessation of the war in Lebanon and the opening of the Strait of Hormuz, will lead to a reduction in production, shipping, and insurance costs. This will have a positive impact on food prices in the coming period. They also pointed out that the effect of these cost reductions on global prices has not yet manifested immediately; instead, it will take some time for these changes to be reflected in the markets.
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