The Sultanate of Oman is well-geared to meet any shortfalls in the import of key food grains and essential staples stemming from the Ukraine crisis, according to a food industry official.
Eng Ibrahim al Ameri, Chief Operations Officer at Oman Flour Mills Company, said the Sultanate of Oman has stockpiled certain essentials, notably wheat, and has begun to tap new markets to secure the country’s requirements.
The comments came in response to a recent report by the UN Food and Agriculture Organization (FAO) warning that global food commodity prices have reached “all-time highs” due to the Russo-Ukrainian war that began in March, hampering wheat and grain exports. Impacted by the crisis are the prices of grains, vegetable oils, dairy, meat, and sugar, the UN agency noted.
The FAO food commodity price index rose by 12.6 percent between February and March, "a giant leap to a new high since it was introduced in 1990," according to the organization.
Publicly listed Omani Flour Mills dispelled fears of a wheat shortage in the markets of the Sultanate of Oman for the current year. The government has concluded alternative contracts to purchase wheat from India, Australia and Argentina. Oman Flour Mills has around 160,000 tons of wheat stockpiled at its siloes at Port Sultan Qaboos, which accounts for around 50 percent of the country’s total consumption of 350,000 tons annually.
Eng Al Ameri added: “The company has alternative and reliable supply lines from different countries at the same time, such as India, Argentina, and Australia. Also, our stockpile is very strong and there is no fear of shortage of basic materials. For example, the siloes in Sultan Qaboos Port are all full with around 120,000 tons. Also, there are 160,000 tons that will reach us soon, which is being shipped to us through our corporate suppliers.”
Oman Observer is now on the WhatsApp channel. Click here
