Jordan's commodity reserve meets demand for over 12 months-Industry Ministry

AMMAN — Ministry of Industry, Trade and Supply announced that it is implementing a "sustainable" strategy to maintain Jordan's strategic stock of various commodities, especially foodstuff items, in partnership with Jordan's industrial and commercial sectors, according to Jordan News Agency, Petra.  اضافة اعلان

In a statement to "Petra" on Thursday, the ministry's media spokesperson, Yanal al-Baramawy, , said Jordan's strategic reserve of various commodities is "safe and comfortable," especially wheat and barley.

He noted reserve is "sufficient for local consumption for more than 12 months," as goods are imported from the multiple origins.

The government, he noted, has taken multiple measures to curb rise in global prices on the local market and preserve commodity stock, especially during the Covid-19 pandemic.

With no commodity shortage recorded due to the ministry's efforts, he also referred to the decisions taken to provide commodities and stimulate the private sector to continue production and import operations.

Prices of food commodities have entered the stage of recovery from Covid-19 pandemic and its repercussions, as well as the Russian-Ukrainian crisis, he said.

The local market is witnessing "clear" price drops, some lower than their previous records, especially red meat and some vegetable varieties, he noted.

Noting factors behind price plummet locally, he said these considerations have direct impact on production costs, such as drop in global oil prices and post-pandemic recovery phase that the global economy is witnessing, production resumption and commodity availability.

He noted the ministry carries out daily monitoring activities on the local market, which resulted in issuing more than 5,000 consumer-related violations.

The ministry is also receiving a "large" number of complaints and observations about the markets, and taking the necessary measures against the violators, he pointed out.

The ministry, he noted, intervenes by force of law to control the commodity prices, pointing to setting price caps for some goods and conducting continuous follow-up of global food markets.

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