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Price Of Bread Increases In Lebanon As Wheat Subsidies End
The Ministry of Economy and Trade announced that starting September 26, 2024, the price of a large pack of Lebanese bread, known as “Arabic bread,” will be LL65,000. This comes as the wheat subsidy from a World Bank loan is ending.
The ministry has been preparing for this post-subsidy phase to ensure stable supply despite the country’s current challenges.
A pack weighing 840 grams (40 grams more than before) will cost LL65,000 at bakeries and LL77,000 at supermarkets. A smaller 400-gram pack will be priced at LL40,000 at bakeries and LL45,000 at stores.
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This change represents an 18% increase, as a similar pack used to cost LL55,000 for 800 grams. Wheat will now be bought at LL90,000 per dollar, up from LL60,000 before subsidies ended, explained Ahmad Hoteit, president of the Mill Owners’ Association.
With no further loans expected, bread prices had already risen between LL10,000 and LL15,000 since mid-August.
The World Bank had provided Lebanon with a $150 million loan in 2022 to keep bread prices affordable during the economic crisis. The Consumer Protection Directorate will monitor the market to ensure prices and weights are followed.
