Africazine:
Flour prices in Libya have surged, raising concerns for bakery owners and consumers alike.
Mahmoud Al-Oraibi, head of the Bakers Syndicate in Benghazi, reported a significant increase in flour prices, now reaching 240 dinars per quintal, up from 180 to 200 dinars. This rise in flour prices is part of a broader trend affecting other essential ingredients, with oil, yeast, and sugar also seeing price hikes.
Flour Price Surge Affects Libyan Bakeries
Al-Oraibi highlighted that the increase in flour prices has directly impacted bakery owners. Despite the rising costs of flour and other ingredients, bread prices have remained unchanged for the time being. This situation poses challenges for bakeries as they navigate the rising costs without passing them on to consumers.
The price of oil has now reached 190 dinars per box, while yeast prices have increased from 150 to 185 dinars. Sugar prices have also escalated, currently standing at 200 dinars. These increases in essential ingredients are concerning for both bakery owners and consumers.
Libya: Key figures on Flour Prices
- 240 dinars per quintal for flour
- 180 to 200 dinars per quintal previously
- 190 dinars for a box of oil
- Yeast prices rose from 150 to 185 dinars
- 200 dinars for sugar
Concerns Over Wheat Reserves in Libya
Al-Oraibi expressed concerns regarding the state’s lack of a strategic wheat reserve. He noted that any existing reserves are held by milling companies, which are authorized to import wheat. The absence of clear information about the size of these reserves adds to the uncertainty surrounding flour availability and pricing.
Next Steps for Bakeries and Consumers
- Monitor further price changes in flour and other ingredients.
- Assess the impact of rising costs on bread prices in the future.
- Seek clarity on the state of wheat reserves from relevant authorities.
Rising flour prices in Libya highlight the urgent need for strategic reserves and price stability.
