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Trade reduces Iraq's vulnerability to rising global food prices
Economical 09/17/2023
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Baghdad: Al-Sabah
The Ministry of Commerce reported that Iraq was not affected by the global crisis, with regard to the rise in food prices, thanks to the regular distribution of the food basket on time, at a time when a specialist confirmed that the diversity that Iraq was known for in growing strategic crops strengthened the country’s capabilities and reduced its dependence. On global markets.
Ministry of Commerce spokesman, Muthanna Jabbar Al-Fariji, told the Iraqi News Agency (INA), “Iraq was not affected by the global crisis, with regard to the rise in food prices, thanks to the regular distribution of the food basket on time.” Al-Fariji added, “With regard to the crisis The global crisis that the world has experienced, related to the rise in food prices, as well as the wheat crisis and the problems of implementing Ukrainian wheat contracts to the Turkish side, as well as the intervention of the Russian authorities in preventing the arrival of wheat to the Turkish side, and the great confusion it caused in the movement of global market prices for foodstuffs. Iraq did not feel the magnitude of the crisis, thanks to the regular distribution of food baskets among Iraqi families.”
He continued: “The basket program is stable and has made a significant contribution to stabilizing prices in the local food market, and has helped heads of families reduce the burden on them in purchasing power,” pointing out that “the food basket program, over two years, has completed 19 baskets, including 11 in the year 2022.” And 8 baskets during the current year and up to the present day.” He stressed that “work is continuing, and the Ministry of Commerce’s warehouses contain good quantities of storage, in addition to strategic storage, in addition to the arrival of all basket materials to the agents, and citizens have received all the basket items at once.” “This generated stability and satisfaction among citizens.” He explained, “This stability was clear in the questionnaires conducted by the Ministry in all governorates, as it was found that most of those whose opinions were taken in the questionnaire were satisfied with the quantities of basket materials received.”Al-Fariji explained, “The Ministry hopes that the government’s support for it will continue, and that the basket program will continue to be supportive and supportive of Iraqis, those with limited income, and those below the poverty line.” In addition, Baghdad Economic Forum member Hadi Hindas explained to “Al-Sabah” that the diversity for which Iraq is known In the cultivation of strategic crops, especially wheat, which is always grown depending on rain and traditional agriculture, and now it has begun using modern irrigation techniques, which has achieved high production rates that have kept Iraq away from being affected by the rise in world markets of this important material for the lives of peoples.In addition, member of the Baghdad Economic Forum, Hadi Hindas, told “Al-Sabah” that the diversity that Iraq was known for in the cultivation of strategic crops, especially wheat, which is always grown depending on rain and traditional agriculture, and now it has begun using modern irrigation techniques, which has achieved high production rates that has kept Iraq away from being affected by what it is witnessing. World markets are on the rise for this important material for people's lives.In addition, member of the Baghdad Economic Forum, Hadi Hindas, told “Al-Sabah” that the diversity that Iraq was known for in the cultivation of strategic crops, especially wheat, which is always grown depending on rain and traditional agriculture, and now it has begun using modern irrigation techniques, which has achieved high production rates that has kept Iraq away from being affected by what it is witnessing. World markets are on the rise for this important material for people's lives.
He pointed out the possibility of expanding the cultivation of other important crops, including those used in food industries. This is a very important matter, and will achieve major economic gains for the country, and make global markets complementary to our local market.
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