On Thursday, the Ministry of Industry, Trade and Supply reassured citizens of the abundance of food stocks, price stability and the efficacy of government policies that ensure the preservation and enhancement of stocks and the continuous monitoring of markets.

The Minister of Industry, Trade and Supply, Youssef Al-Shamali, confirmed the adequacy of the strategic stock of locally produced and imported foodstuffs, as the ministry works in partnership with the industrial and commercial sectors to maintain the stock and make it always within safe limits.

During his meeting with the head of the Amman Chamber of Commerce / the Syndicate of Food Traders, Khalil Al-Hajj Tawfiq, and a number of commodity traders, he stressed the importance of continuing to work to enhance the supply stock and maintain price stability, especially before and during the holy month of Ramadan.

Haj Tawfiq and the merchants reviewed the reality of the stock and the ongoing contracts to secure the Kingdom’s needs and make them within the safe borders.

Since 2008, the ministry has implemented a hedging policy, according to which a safe stock of wheat, barley, and food commodities has been built, as well as the multiplicity of import sources and the flow of supply to the Kingdom.

The Northern Minister of Industry said that the sufficient stock of wheat is sufficient for domestic consumption for about 15 months, and the barley stock is sufficient for 11 months.

He added, that the import operations take place from different origins, especially from Romania, where the volume of wheat imports from them last year amounted to about 90% of the total contracted quantities, while imports were not made from Russia last year and this year because of imposing export duties on wheat, barley and corn, and imports were not made. From Ukraine this year too.

He said that the stock of other supply commodities is also comfortable and there is continuous coordination with the commercial and industrial sectors to enhance the stock, noting that the government had previously taken many measures to expedite and facilitate the clearance of food commodities and reduce import costs.

Al-Shamali added that, according to a study conducted by the Ministry of Industry; It became clear that 82% of food commodities were stable, and a 10% decrease and an increase of 8%, during the month of January, compared to the month preceding December 2021.

And he indicated that the ministry monitors food stock exchanges and global markets, as it is constantly imposed on local markets, to follow up the stock situation and the merchants’ commitment to the provisions of the law.

Al-Shamali indicated that the ministry is working in coordination with the private sector to prepare a plan in preparation for the holy month of Ramadan to ensure the abundance of goods and the stability of their prices.

The civilian and military consumer institutions contribute to enhancing food stocks and stabilizing prices.

On Thursday, grain prices recorded record levels in the trading sessions in the European market, and the price of wheat reached an absolutely unprecedented price with 344 euros per ton at the “Euronext” group, which manages a number of European stock exchanges.