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       Disasters, repercussions of war tied to rise in commodity prices

       KUWAIT CITY, May 24: Minister of Commerce and Industry Fahd Al- Shariaan affirmed that commodity prices are under the supervision and control of the Ministry of Commerce, assuring everyone that providing food security in terms of food supplies, commodities and basic materials for every Kuwaiti household is a top priority for the government, reports Al-Qabas daily. In a statement to Kuwait News Agency (KUNA) and Kuwait TV, after the weekly Cabinet meeting, Monday, Al-Shariaan said, “The Ministry of Commerce is able to control the impact on commodity prices locally, but the changes that occurred globally are significantly affecting commodity prices today and this rise.

       All countries of the world have been affected by disasters and the repercussions of war.” He explained that “the State of Kuwait imports 95 percent of foodstuffs, if not more, so the global changes that are taking place represented in the increase in energy prices, the increase in freight prices, and the prevention of some countries from exporting their products and other factors, all of which contributed mainly to the increase in demand and the lack of supply.”

       Vision

       He indicated that the leaders of the Ministry of Commerce presented to the Council of Ministers at its meeting (today) a visual presentation that included a specific vision of what is happening in the food security system. He said that His Highness the Prime Minister Sheikh Sabah Khaled Al-Hamad Al- Sabah, directed the Cabinet to form a ministerial committee to enhance the food security system headed by the Deputy Prime Minister, Minister of Oil and Minister of State for Cabinet Affairs Dr. Muhammad Al-Faris and the membership of a number of concerned ministers. He said that the Council of Ministers recommended the relevant government agencies to take all appropriate decisions to provide goods appropriately and facilitate access to them for all citizens and residents.

       “Based on the directives of the political leadership, the government is keen to greatly support basic commodities and provide subsidized supplies, commodities and basic materials to every Kuwaiti household through the Kuwait Catering Company,” he said. He affirmed the interest of His Highness the PM Sheikh Sabah Khaled and all ministers, in the issue of strengthening the food security system in terms of its availability, safety and quality of food.

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