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The Cabinet of Ministers approved support to the Ministry of Trade through the urgent allocation of $100 million to buy imported wheat to build a strategic stockpile.
The ministry stressed that it had prepared a plan to ensure food security for Iraqis and combat the global rise in wheat prices related to "the crisis between Russia and Ukraine, which provides a third of the world's wheat, oil and corn supply."
Various measures are also planned to support Iraqi farmers.
Earlier, the price of wheat on the Chicago exchange rose to its highest in almost 14 years and corn rose to its highest in nine years because of risks of supply disruptions due to the situation in Ukraine.
source: nasdaq.com
The ministry stressed that it had prepared a plan to ensure food security for Iraqis and combat the global rise in wheat prices related to "the crisis between Russia and Ukraine, which provides a third of the world's wheat, oil and corn supply."
Various measures are also planned to support Iraqi farmers.
Earlier, the price of wheat on the Chicago exchange rose to its highest in almost 14 years and corn rose to its highest in nine years because of risks of supply disruptions due to the situation in Ukraine.
source: nasdaq.com
