Head of Libyan bakers blames lack of documentary credits for bread crisis

Head of Libyan bakers blames lack of documentary credits for bread crisis

July 31, 2018 - 14:36
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Written By: SafaAlharathy

Head of the Libyan Bakers’ Syndicate Khreis Mohammed said that the increase in the price of bread in the past few days is due to the government failure to issue documentary credits for the supply of bread-making flour.

In a press statement, Khreis said that he expects the Presidential Council to sign the documentary credits soon, pointing out that if the credits are opened, wheat flour will be available in a week to a month.

Khreis confirmed that they have agreed with the Presidential Council to allocate 100 million dinars for importing items for 65 mills, including 55 private mills and 10 public ones, adding that these supplies will contribute in decreasing the price of bread to what it was in the past period.

Last month, the flour mill factory, Rabea Company, announced in a statement that it is ready to produce 6,000 tons of flour a day if it obtains approvals to open wheat supply credits.

The country is experiencing a bread crisis after bread prices continued to rise exponentially, reaching the price of half a dinar for each loaf of bread.