[talking over each other]. neil: so let me ask you this. the way things stand now, you talk about lower prescription drug prices as a result that comes with this. that s all well and good. if it holds to what you re saying, it will lead to a lot lower costs for those folks that depend on that. now, food inflation is still running at a 13% clip year over year. so for those that get a break on their drugs, they re not getting a break on their groceries. nothing in this is going to address that, right? so what we re trying to do on food is separate and apart from the inflation and reduction act. here one of the things i have is a bit of hopeful news. that is if you look at the futures crisis, which means the contracts that food importers and exporters are paying for food shipments, they re falling.
the first grain shipment from ukraine since russia s invasion is on its way to lebanon after being inspected in turkish waters under a un sponsored deal. food prices have soared around the world because of the disruption to ukrainian grain exports. but nowhere more than in lebanon where food price inflation hit 332% in the yeartojune, according to the world bank. a massive explosion in the port of beirut two years ago today crippled the country s ability to import and distribute food. hani bhosali is president of the syndicate of food importers in lebanon. hani we spoke to you two years ago after the disaster. very soon after this devastating event that took place, talk us through what has been happening since in terms of reaction to that, the current state of play with food
The Lebanese Syndicate of Food Importers announced that there is an imbalance in the process of retrieving goods from the Beirut port, and there is fear of severe damage to the food supply chains in Lebanon.
As the US Dollar is exceeding 35,000 LL in Lebanon, store owners and supermarkets rush to raise the prices of goods, each according to their own, until the prices have become "imaginary".
FDA issued updated guidance on requirement under Foreign Supplier Verification Programs for Food Importers FSVP regulation, food importers to ensure each entry line of food offered for importation to US has acceptable unique facility identifier UFI that is provided electronically.