Head of the Bakery Owners Syndicate in Mount Lebanon tells LBCI: Bread prices will not increase significantly after subsidy ends

Antoine Seif, the Head of the Bakery Owners Syndicate in Mount Lebanon, confirmed that subsidies on bread would be lifted between September 10 and 15.

Seif reaffirmed that the price would not increase significantly, explaining that consumers currently pay 60 percent of the price of bread, which costs LBP 55,000, while the Lebanese treasury subsidizes the remaining 40 percent.

In an interview on LBCI's "Nharkom Said" TV show, he noted that from now until September 15, the 40 percent subsidy will be lifted, and the price of bread is expected to change. 

He said, "In my opinion, the price will rise by LBP 10,000 to LBP 15,000, reaching a maximum of LBP 70,000 or less," adding that the weight may be slightly adjusted.

The Head of the Bakery Owners Syndicate in Mount Lebanon highlighted the advantages of lifting subsidies, noting that mill owners will gain the freedom to import larger quantities of higher-quality wheat. This increased competition in the market is expected to positively impact the quality of bread.