Global price rise and informal market among factors behind basic food soaring prices

The skyrocketing prices of some basic food items,

The skyrocketing prices of some basic food items, especially sugar and oil, were caused by high global prices, inflation and illegal practices relating to the informal market, specialists told APS.According to Reda Hamiani, the head of the business managers' forum FCE, the rise in the prices of some mass-consumption products "is the outcome of a series of national and international phenomena."Hamiani said sugar price in the international markets moved up sharply for many months because of Australia floods that would affect local production, the decline in production in China and Russia and increase of demand in India.

Source: APS

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