Warnings of Hormuz Disruptions Impacting Import Costs and Local Food Prices

Economic experts confirmed that food prices in local markets face the risk of surging due to global trade disruptions through the Strait of Hormuz, warning against potential monopolistic practices by some merchants to inflate profits. Experts explained that the markets rely on imports for over 90% of their needs, making them highly vulnerable to increased maritime shipping and insurance costs arising from regional crises. Specialists called on government authorities to strictly monitor markets, combat monopolies, and secure a strategic reserve of essential commodities to ensure price stability amid current tensions.