Commodity Prices Are “Falling”!
The head of Food Importers Syndicate Hani Bohsali noted that the price increases were not uniform across different commodities; fresh products saw significant increases, while prices for canned goods rose only slightly. The main reason for the price hikes was the global increase in fuel prices.
In an interview with VDL, Bohsali noted that “the current atmosphere is positive, and there is some relief and a decline in fuel prices; consequently, operating costs will gradually decrease.”
Noting that “commodity prices will return to normal levels given the global price decline as well,” Bohsali reassured that “there will be no random price hikes as long as the situation remains as it is now,” explaining that “the decline is not only related to fuel prices in Lebanon but also to the global situation.”
Regarding the decision to suspend environmental fees, Bohsali asked, “Where did they see that rice, sugar, and vegetable oils are pollutants that warrant taxes ranging from 1 to 2.5%?” He noted that “the pressure exerted by the Importers’ Union and economic bodies led to the suspension of the decision pending further review.”
