Ukraine war sparks food shortages in Arab nations as wheat prices soar

  • Date: 21-Mar-2022
  • Source: Financial Times
  • Sector:Oil & Gas
  • Country:Middle East
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Ukraine war sparks food shortages in Arab nations as wheat prices soar

Russia’s invasion of Ukraine has made life even harder for Fadia Hamieh, a Lebanese university lecturer who was already struggling to make ends meet in a country with a failing economy.

Since the start of March, flour has disappeared from the shops and the price of bread has increased by 70 per cent. “Supermarkets are hoarding basic goods, then selling them at higher prices,” said Hamieh.

Even before the Ukraine crisis, Lebanonwas in the grip of a financial meltdown; its currency has lost more than 90 per cent of its value since 2019. With more than 70 per cent of its wheat imports coming from Ukraine, consumers have been dealt a further blow.

Hamieh, whose monthly salary has plunged from the equivalent of $1,500 to a paltry $200, now faces the additional burden of high bread prices and shortages of basic foods. “Every time I go to buy things for the family, I get depressed. We have had to cut down on so many things,” she said.

The situation in Lebanon may be more precarious than elsewhere in the Arab world because of the country’s crippling economic crisis. But across the region, grains and vegetable oil from Ukraine and Russia are crucial to national diets,