Iraq grapples with rising food costs as a result of Ukraine war
Ripple effects from the Russian invasion of Ukraine are driving the Iraqi government to allot additional funds to ensure the food supply is stable.
BAGHDAD — The global economic crisis due to the Russian-Ukrainian war has led to price hikes in Iraq. This has prompted the Iraqi government to amend several decisions related to the import of goods, especially foodstuffs, instructing the internal security forces to monitor markets and prices.
The prices of some foodstuffs, especially wheat-derived goods, such as pastries, in addition to cooking oil, has increased by 20%.
Consequently, the Iraqi government is now paying 30% more to Iraqi farmers for their wheat. This aims to support local farmers and ensure that they sell all their products for domestic use. The government is also offering loans to farmers through the Agricultural Bank and other Iraqi banks.
Baghdad has decided to grant poor families 100,000 Iraqi dinars ($68). It also opened imports for a period of three months for all foodstuffs without exception, so all products could be amply available in the market.
