Madagascar freezes the prices of essential products

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In response to the soaring prices of certain commodities, the Malagasy government has now frozen the prices of several essential products such as sugar, flour, rice, oil, gas and cement.

The products, mostly imported, will now be available at lower rates in order to curb the price hike.

The Covid crisis and now the war in Ukraine pose great difficulties for transit workers. The prices of fuel, but also of basic necessities, are soaring on the stock markets.

The FAO (Food and Agriculture Organisation of the United Nations) estimates that this inflation is only just beginning.

It believes that soaring energy costs, and therefore maritime freight costs, will cause the cost of food products to soar.

Vulnerable countries, dependent on exports and imports, such as Madagascar, are threatened with an unprecedented food crisis.