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FINANCIAL NEWS
Iraqi flour prices up %300
07 Feb 2011
(MENAFN) Iraqi government officials reported an increase in flour prices by three hundred percent in January 2011 due to insufficient supply, which led to protests in the poorer areas of the country in fear of an increase in food prices, reported Saudi Gazette.
The officials also said that this increase is not permanent and would only last till new shipments arrive. They added that the country has local wheat in stock and is waiting for the arrival of imported wheat to mix with the Iraqi to manufacture flour.
It is worth noting that Iraq is among the world’s top wheat importers. A single kilogram of wheat is currently sold in Iraq at the average price of 200 Iraqi dinars.
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