Bassali reassures Lebanon on food prices
FAO data has shown that global food prices reached their highest level in nearly four years in September, influenced by a 6.1% rise in sugar prices, a 5.1% increase in grains, and a 0.9% uptick in vegetable oils. The President of Food Importers emphasized that the fluctuations in prices worldwide, ranging between 3% and 6%, are normal and do not indicate a food crisis, as they are affected by supply and demand forces and agricultural seasons. He also pointed out that minor increases—particularly in vegetable oil prices, which are less than 1%—do not signal the emergence of a new crisis. Factors such as climate phenomena like El Niño and geopolitical developments in the Strait of Hormuz are the main drivers that may continue to put pressure on food prices in the coming months, with expectations of further increases rather than declines.
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