Al Bilad newspaper Lower in authorities help for flour by 23.7% – 2024-05-14 23:32:59

The monetary statements of the Bahrain Flour Mills Firm confirmed a lower in authorities help for flour within the first quarter of this yr, affected by the decline in wheat costs through the first quarter within the international market. Authorities help decreased by 23.7% within the first quarter on an annual foundation, bringing the quantity of help offered to three.46 million dinars within the three months. The primary of this yr in comparison with 5.2 million dinars in the identical interval in 2023. With out the federal government help offered to the Bahrain Flour Mills Firm, the corporate would obtain working losses earlier than calculating the help of about 2.9 million dinars.
The typical worth of wheat on the worldwide market within the first quarter of 2024 was about $219, in comparison with $320 in the identical interval of 2023, a lower of 31%.
Bahrain has been subsidizing bread by fixing its costs within the native market at 100 fils per bag (of French bread) and 20 fils for every loaf of common bread. This has been accomplished because the Seventies by offering flour and kerosene at sponsored costs to common and automatic bakeries, because the ratio of the price of flour to the overall value of sponsored merchandise has diminished. In accordance with bakery house owners.

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