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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    A wave of high prices hit the markets and calls for government intervention

    Rocky
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    • Post n°1

    A wave of high prices hit the markets and calls for government intervention Empty A wave of high prices hit the markets and calls for government intervention

    Post by Rocky Sat Apr 10, 2021 8:38 am

    A wave of high prices hit the markets and calls for government intervention

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    Iraqis are known for the abundance of shopping, especially ahead of events and holidays, and the month of Ramadan, which is preceded by a massive shopping movement for basic needs, foodstuffs, and other items that fall within the Iraqi table. 
    But it seems that the crises that the Iraqis are experiencing, including the greed of merchants and the irregularity in the supply of food supplies supported by the state, as well as the Corona pandemic, in addition to the series of economic crises, including the difficult situation experienced by a large segment of Iraqis are all challenges that will increase the suffering this month, It will be reflected in the volume of their basic purchases, especially since some commodities have increased in large proportions, while a number of merchants justify the increase due to the increase in the exchange rate of the dollar against the Iraqi dinar.
    The price increase was not limited to imported foodstuffs, but went beyond that to locally produced materials such as fish, chicken, eggs and vegetables, which in addition to increasing their prices, some of them became scarce from the market as a result of the increasing demand for them, forcing the Ministry of Agriculture to announce permitting the import of 50,000 tons of tomatoes And 50 thousand tons of chicken factories during the month of Ramadan to control the prices of these materials, which rose in large proportions, justified by the fact that it came to protect consumers from rising prices.
    Al-Kazemi stresses to protect the citizen from the greed of traffickers
    The massive increase in prices prompted Iraqi Prime Minister Mustafa Al-Kazemi to assure that he would monitor the markets himself, stressing “protecting citizens from the greed of traffickers of people's food,” refusing to allow those he described as “bidders to exploit the economic circumstance.”
    On March 9, Al-Kazemi directed the Ministry of Trade to provide the basic ration card items supported by the state, prompting the ministry to instruct the provision of these items (flour, rice, sugar and oil) for a period of two months.
    The ration card system was established after the economic blockade imposed on Iraq after its invasion of Kuwait in August 1990, which is based on providing basic foodstuffs in addition to cleaning powders. The number of months has been reduced to between six and eight months annually.
    Fear of surprises reduced the volume of imports
    A member of the Economic Committee, Mazen Al-Faily, attributed the price increase to merchants' concerns about increasing the volume of their imports due to fluctuations in the dollar price in the local market and fear of surprises, blaming the government for not pumping large quantities of foodstuffs to stabilize market conditions.
    "There were measures after the decision to increase the dollar exchange rate, including subsidizing the local product and stopping imports of some food commodities such as eggs and chicken, which led to an increase in their prices due to insufficient local production, as its production fluctuated and did not cover the local market, at a time of strong demand for it," Al-Faily added.
    Regarding imported foodstuffs, he clarifies that merchants did not import large commodities for fear of the fluctuation of the dollar exchange rate, and that the majority of the merchandise is in merchants' stores, which led to the scarcity of these materials and the increase in their prices.
    Al-Faily calls for the need for the government to follow-up the markets and open imports of similar materials to the local product in the event of a lack of production with the injection of subsidized foodstuffs to reduce the demand for them in order to positively reflect on the lower prices of materials.
    A member of the Economic Committee said it is likely that the prices of foodstuffs will decline after the increase in the volume of imports by traders when they get reassurance about the stability of the exchange market. 
    Urgent solutions to face the crisis
    Crisis management specialist Ali Al-Fariji believes that the increase in food prices before the month of Ramadan is caused by the increase in the exchange rate of the dollar, while stressing the need for the government to develop urgent solutions to confront the crisis.
    Al-Freiji holds the government responsible for not providing basic subsidized foodstuffs in the market to balance prices, and for failing to seriously monitor merchants who took advantage of the situation to make profits in the absence of the state's role.
    Activating the consumer protection law 
    As the economic specialist, Abdul Hussein Al-Shammari, stresses the need to activate Iraqi laws on consumer protection, and the government has pumped large quantities of foodstuffs into the market.
    Al-Shammari believes that the increase in the dollar exchange rate is one of the reasons for the increase in food prices of this size, in addition to the fact that food prices have risen globally, which has led to its negative impact on the Iraqi citizen.
    Regarding the reasons for the increase in the prices of foodstuffs of local production, such as chicken and eggs, Al-Shammari explains, "The increase in the prices of local production is due to the purchase of some imported materials for poultry farmers, such as vaccines and feed."
    Al-Shammari stresses the need for the government to provide subsidized foodstuffs in large quantities, especially after approving the budget in order to stabilize prices, and for some laws in effect such as the Consumer Protection Law to be activated.
    Source: The Independent 
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