AMMAN – On Tuesday, the
World Bank issued a
monthly
food security report revealing that food prices in Jordan experienced a
notable surge, escalating by 3 percent by the end of January 2024. This report
underscores a concerning trend as food prices in the region have continued
their upward trajectory for the seventh consecutive month.
اضافة اعلان
These increases began with a 0.6 percent
rise in June 2023, followed by subsequent increments of 1.2 percent in August,
1.3 percent in September, 0.8 percent in November, and 2.2 percent in December
2023. This persistent surge comes after a brief decline witnessed in May and
June 2023, Al-Ghad reported.
Of significant note is the overall
Consumer Price Index (CPI) inflation in Jordan, which rose by 2.08 percent throughout
2023, reaching 109.02 points compared to 106.79 for the same period in 2022.
The report also highlights the sustained elevation of the
FAO Food Price Index
(FFPI) and its broader implications.
In October 2023 and January 2024, the
available data on
food inflation reveals a troubling global trend. Inflation
has spiked to over 5 percent in 60 percent of low-income countries, marking a
2.1 percentage point increase since the last update. Similarly, inflation has
surged in 66 percent of lower-middle-income countries, albeit with a decrease
of 5.7 percentage points. Furthermore, inflation continues to ascent in 50
percent of upper-middle-income countries, witnessing a 2.0 percent increase.
High-income countries have not been immune either, experiencing a 36.4 percent
rise, albeit with a decrease of 9.1 percentage points.
The report attributes these price hikes to
a confluence of local and global factors. Foremost among them is the impact of
restrictions placed on rice exports by India, which has reverberated throughout
global markets. India's decision to curb non-basmati rice exports, aimed at
stabilizing local prices, has had far-reaching consequences, affecting half of
the world's rice markets.
Furthermore, the price of standard Thai
white rice has surged by a staggering 22 percent since India's ban on
non-basmati white rice exports in July 2023, disrupting global supplies. This
disruption has particularly hit imports in South and Southeast Asia and
Sub-Saharan Africa, compelling these regions to seek alternative sources.
Adding to the mix are losses in production
caused by the
El Niño phenomenon in other major rice-exporting countries like
Vietnam and Thailand. These losses have compounded global price increases.
Meanwhile, wheat prices have skyrocketed by over 50 percent since the onset of
the Russia-Ukraine war, given that both countries are significant
wheat exporters. The war-induced disruptions have further exacerbated the situation.
Despite these formidable challenges, global
rice inventories remain ample, and India's upcoming summer harvests are
anticipated to be favorable, offering a glimmer of hope amidst the prevailing
uncertainty.
As Jordan grapples with these escalating
food prices, policymakers and stakeholders are urged to confront the
multifaceted dynamics at play, fostering resilience and seeking sustainable
solutions to mitigate the impact on vulnerable populations.
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