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Gaza lifts import taxes from flour, wheat as prices rise

Prices of flour and wheat being brought into the besieged enclave through Egypt have risen 20 per cent in recent weeks

Palestinian authorities in Gaza have agreed to put in place customs exemptions for importers of flour and wheat in an effect to mitigate rising global prices as a result of Russia's war on Ukraine.

Prices of flour and wheat being brought into the besieged enclave through Egypt have risen 20 per cent in recent weeks. Some 40 per cent of Gaza's wheat and flour needs are brought into the Strip through Egypt, the remainder is imported by UNRWA through Israel, the Ministry of National Economy in Gaza said.

A decision was also taken to reduce the weight of a bundle of bread from 2.8 kilogrammes to 2.6 kilogrammes, while maintaining the number of loaves inside a bundle at 50.

Ukraine and Russia are the Middle East's largest suppliers of wheat, with the war and subsequent sanctions imposed on Russia damaging supply lines and increasing global prices.

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