Jordan News

The head of the Amman Chamber of Commerce, Khalil Al-Haj Tawfiq, confirmed the increase in the prices of vegetable oils and other commodities in the local market, indicating that this happened in “slow stages” during the last period and not because of the Russian-Ukrainian war.

Haj Tawfiq, in a post on his Facebook page, today, Tuesday, referred to “the state of madness that afflicted global markets before the Russian-Ukrainian war, and this madness increased after the start of the war. Securing the oil commodity became more difficult than before, and prices are likely to rise in the future.”

He added, “The main goal we have now and for a while is to secure the Kingdom with a safe stock, because we do not have a means of pressure to negotiate and maneuver with suppliers abroad to reduce prices and wait until prices drop despite the “risk” of buying at the high price.”

Here is the full text of the post:

To those who seek the truth

In the attached picture, a review of the rises that occurred in the prices of vegetable oils, and the port of Aqaba continued during about a year and a half.

Note: Jordan does not produce any oil drop

The quantities come in their final state, ready for consumption in bulk from more than one country, and they are packaged in about 7 factories, and the rest comes in the form of ready-made packages, and most of them are imported from Saudi Arabia and Egypt.

Once again: the increase in vegetable oils locally, in addition to other commodities, took place in slow stages, although the prices locally are still lower than international prices because the importer or the owner of the factory calculates the cost first-hand due to the stagnation that has hit local markets for a long time and seeks to secure the Kingdom with a safe stock regardless Regardless of the cost price due to the state of madness that afflicted global markets before the Russian-Ukrainian war, and this madness increased after the start of the war. Securing the oil commodity became more difficult than before, and prices are likely to rise in the future. There is no truth to what some claim that prices rose because of the war, and if the matter was that easy, it was It is easier to raise sugar and rice under the pretext of war.

We will not accept anything but to tell the truth to people, even though it will not be liked by many, and we know that there is a small group that is trying to create a crisis or promote misleading news that has caused confusion in the markets and the Jordanian citizen.

Once again: The main goal we have now and for a while is to secure the Kingdom with a safe stock, because we do not have a means of pressure to negotiate and maneuver with suppliers abroad to reduce prices and wait until prices drop despite the “risk” of buying at the high price. In 2008, after the global vegetable oil markets suddenly collapsed, they had large quantities at a high price.”