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Association of Mills in Lebanon: Wheat stock is not enough to last more than a month

25-02-2022 | 09:28

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Association of Mills in Lebanon: Wheat stock is not enough to last more than a month

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Association of Mills in Lebanon declared on Friday in a statement that the conflict and events in Ukraine, which is the main supplier of wheat, led to the cancellation of all wheat sales deals due to force majeure, resulting in a price increase of 45 to 50 USD per ton of wheat.

The association also expressed its concern over the situation and its impact on the continued import of wheat from Ukraine, which necessitates the search for new sources, and called on all the concerned officials to work on the request from the BDL to transfer the price of imported wheat that was loaded onto the ships at sea, today and immediately.

“Exporters have a desire to transfer them to other countries to take advantage of the difference in prices after their rise and the growth in demand for wheat,” it then stated, urging the government to define the import policy and secure a strategic reserve stock of wheat.

It has also hoped that the officials would take it seriously and act quickly, because the available stock is not enough to last more than a month, and the price has not been paid, which must be paid before it can be ground.

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