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Bahrain: An increase in the prices of basic foodstuffs
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Food suppliers said that prices of basic foodstuffs are facing significant increases; Because of the high prices on global stock exchanges, and the high cost of shipping at record rates that exceeded 300%.

Food suppliers said that prices of basic foodstuffs are facing significant increases; Because of the high prices on global stock exchanges, and the high cost of shipping at record rates that exceeded 300%.

According to the Food Price Index tracked by the Food and Agriculture Organization of the United Nations (FAO), global food prices have reached their highest levels since July 2011.

Businessman Ibrahim Zainal stated - in a statement to Al-Ayam Al-Iqtisadi - that the price fluctuations in foodstuffs are mainly due to the period of the first quarter of the year 2020, and that the local market was not affected by it at that time due to the presence of a sufficient stock of food commodities, which Coincided with the weak demand for the hotel sector.
Zainal - who is the Chairman of the Board of Directors of Travco Group, the largest food company in the Kingdom - indicated that the noticeable increases in food commodities included vegetable oils by 85%, sugar by 30%, and dairy products by 28%.
Shipping rates go up 316%

Zainal explained that the rise in prices coincided with a crazy increase in freight prices, as the cost of shipping containers increased by 316 percent, from $1,200 to $5,000 per container, and the cost of shipping refrigerated containers increased from $2,000 to $8,000 per container.