Gov’t to enhance food stock, regulate prices amid Red Sea tension

(File photo: Ameer Khalifeh/Jordan News)
AMMAN — In response to Prime Minister Bisher Al-Khasawneh's directives, the government has implemented a series of measures to address potential inflationary pressures arising from Israel's conflict with the Gaza Strip and disruptions in the Red Sea and the Bab el-Mandeb strait, Al-Mamlaka TV reported.اضافة اعلان

These decisions were undertaken to alleviate these pressures, preserving food stocks, ensuring the continuity of the supply chain, guaranteeing price stability, and regulating the market, particularly in the lead-up to and during Ramadan.

The spokesperson for the Ministry of Industry, Trade, and Supply, Yanal Barmawi emphasized that these measures were put into effect to mitigate the consequences of the increase in maritime shipping prices. The objective is to support the private sector in addressing these challenges, with a specific focus on bolstering the strategic stock of essential food items and stabilizing prices by minimizing additional costs through the outlined measures.

Barmawi further noted that the measures included establishing price ceilings for containers, aiming at estimating and calculating customs duties to alleviate costs. This initiative was in response to the private sector's request to maintain prices at the same levels prior to October 7, 2023. He also mentioned that there will be sectorial and expanded meetings with producers, importers, and traders of food items. Additionally, continuous market monitoring tours will be organized.

Moreover, regulatory and specialized authorities in Aqaba were directed to operate continuously, ensuring the expeditious processing of clearance procedures for goods, with a particular emphasis on food items.

Jordan’s Silos and Supply General Company has initiated the implementation of the Cabinet's instructions, permitting the private sector to store food commodities in the company's warehouses at costs 40 percent lower than those in the market. Furthermore, the Minister of Industry, Trade and Supply, Youssef Al-Shamali reviewed the company's operations and storage procedures, focusing on the private sector's storage of wheat, barley, and other goods stored in various warehouses for both refrigerated and dry items.

Shamali has made the decision to ban the export of crucial food items, including sugar, rice, and vegetable oils, in order to safeguard stocks and ensure an adequate supply for the local market. In addition, in coordination between the Ministries of Industry, Trade, and Supply, certain procedural requirements for importing essential food items, such as meat, into the local market were temporarily suspended.

Shamali also directed market inspectors in Amman and the governorates to intensify and strengthen market supervision, closely monitor prices, and utilize legal powers to prevent any form of exaggeration.

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