Iraq’s Strategic Initiatives to Stabilize Food Prices Ahead of Ramadan
As the month of Ramadan approaches, the Iraqi Ministry of Trade is implementing a comprehensive strategy aimed at controlling food prices across local markets, with the intention of mitigating potential increases that could impact citizens during this important period.
Lama Al-Mousawi, the General Manager of the General Food Trade Company within the Ministry of Commerce, emphasized the ministry’s commitment to maintaining price stability for essential food items. She indicated that the Prime Minister’s office is closely monitoring prices in collaboration with the ministries of trade and agriculture to ensure that the costs of meat, poultry, and eggs remain stable.
In recent days, the relevant committee has engaged in extensive discussions regarding the pricing of meat, poultry, and eggs. A proactive plan has been established to monitor prices even at smaller retail outlets, thereby ensuring comprehensive oversight.
Al-Mousawi noted that these actions aim to reassure the public that there will be no price surges during Ramadan. Among the key measures being introduced is a new food basket initiative for citizens and those receiving social welfare benefits. Additionally, the Ministry is promoting the establishment of hybrid and large commercial centers prior to Ramadan to provide various choices at competitive prices.
Anwar Al-Khafaji observed that as Ramadan nears, consumer behavior among Iraqi citizens shifts, leading to an increased demand for basic foodstuffs. This heightened activity results in significant crowds at local markets and commercial stores, as families seek to stock up on essential items before the holy month begins.
Al-Khafaji explained that a phenomenon known as “seasonal shopping” encourages Iraqi households to purchase large quantities of Ramadan essentials out of concern for potential price hikes or product shortages. However, this can lead to excessive spending behaviors, despite the month being one traditionally associated with moderation and restraint.
Price Stability Amid Regional Challenges
Despite the various crises faced by the region over the past year and a half, Iraq has successfully upheld food price stability. In an effort to counteract any potential increases, Prime Minister Mohammed Shia Al-Sudani has called for the launch of a price reduction initiative for individuals benefiting from social welfare programs.
According to statements from the Prime Minister’s media office, this initiative aligns with the government’s priorities focusing on poverty alleviation and support for vulnerable groups. The plan will introduce price reductions ranging from 10-15% for recipients of monetary subsidies, commencing on the first day of Ramadan.
This initiative will encompass all items sold in the new hypermarkets recently established by the government. Six such centers have opened in Baghdad, with plans underway to launch an additional twenty-three similar facilities both in Baghdad and other provinces, ultimately aiming for a total of 150 locations with food and essential goods offered at subsidized prices.
Conclusion
As Ramadan approaches, Iraq’s Ministry of Trade is taking significant steps to stabilize food prices and ensure that citizens have access to necessary goods without undue financial burden. These strategic initiatives reflect a commitment to supporting the population during a time typically associated with increased consumption and economic activity.
