Kuwait expects hike in commodity prices in the coming period

Kuwait expects hike in commodity prices in the coming period

KUWAIT CITY, Dec 27, (Agencies): A government report expects the world’s economies to witness further increases in commodity prices in the coming period, especially in the food prices, which will put more pressure on countries that depend on food imports, or countries where climate or conflict shocks could lead to disrupt local food production, in …

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KUWAIT CITY, Dec 27, (Agencies): A government report expects the world’s economies to witness further increases in commodity prices in the coming period, especially in the food prices, which will put more pressure on countries that depend on food imports, or countries where climate or conflict shocks could lead to disrupt local food production, in addition to countries that suffer from macroeconomic fragility, pointing out the need to take urgent decisions to reduce the impact of global food price increases on the local market, especially since its cost will be high on the national economy. 

The report indicated that food prices will continue to rise during the next five years, despite their stability, but at higher levels than they were before the outbreak of Covid-19 pandemic.

The same