Current Affairs
Hit By Supply Shortage From Ukraine, Lebanon Likely To Import 50,000 Tonnes Of Wheat From India
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Lebanon is considering a tender to import 50,000 tonnes of wheat from India.
However, the timeline of this transaction relies on the Lebanese central bank opening the adequate credit line for the same.
The central bank has been asked to release $26 million in advance for the government to launch the tender.
“India is the first state to give me a final answer on quantities and tomorrow it will give me answer on the price,” Lebanese minister Amin Salam was quoted in a report by Reuters.
In the meanwhile, Beirut is awaiting clearance over price specifications of the same from Kazakhstan and the United States of America (USA).
Lebanon purchased majority of its wheat from Ukraine prior to the Russian attack.
“We still have a few purchases that are coming in the next week (from Ukraine). But after that we are not sure what we can get from Ukraine,” Salem addressed the developments.
The World Bank has reportedly predicted that Lebanon will be amongst several developing countries that will face a short-term shortage of wheat supplies due to ongoing Russia-Ukraine war.
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