Bread Crisis in Sudan Hindering Government Efforts

A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)
A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)
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Bread Crisis in Sudan Hindering Government Efforts

A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)
A Sudanese man works at a bakery in the capital Khartoum on Friday. (AFP)

Bread lines remain a familiar scene in the main streets of Khartoum, although the Ministry of Finance and Economic Planning announced that it was increasing subsidies of a sack of flour from 100 to 250 Sudanese pounds (around USD14).

A Russian ship loaded with wheat had already arrived in Port Sudan.

Sudan has been witnessing a crisis in providing wheat to bakeries for a month now due to the scarcity of foreign monetary resources in the Central Bank of Sudan (CBS), which was forced to resort to commercial banks to fulfill the country’s needs of essential products, such as wheat and fuel.

The ministry demanded that bakeries increase their daily production to exceed 100,000 sacks to cover the needs of the capital and other states.

The security authorities and popular forces called for taking precautions to maintain the subsidized wheat and prevent smuggling.

Tariq Shalabi, State Minister at the Ministry of Finance and Economic Planning, said that the country seeks to provide bread given that it is a strategic product that is linked to the lives of citizens.

He pointed out that the past period saw several policies to resolve this crisis.



Gold Steady as Focus Shifts to US Data for Economic Cues

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)
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Gold Steady as Focus Shifts to US Data for Economic Cues

Gold bullion displayed in a store in the German city of Pforzheim (dpa)
Gold bullion displayed in a store in the German city of Pforzheim (dpa)

Gold prices were little changed on Monday, while investors awaited a slew of US economic data including the December nonfarm payrolls report for further guidance on the Federal Reserve's stance on interest rates.
Spot gold held its ground at $2,635.39 per ounce by 0510 GMT. US gold futures dropped 0.2% to $2,646.80.
How the US jobs data fares this week could hold the key to whether gold breaks out of its recent range, said Tim Waterer, chief market analyst at KCM Trade.
"There is a plethora of US data due for release this week (including ISM Services PMI data), and any downside misses could hurt the USD and help gold."
The US jobs report, due on Friday, is expected to provide more clues to the Fed's rate outlook after the US central bank rattled markets last month by reducing its projected cuts for 2025.
Investors are also awaiting ADP hiring and job openings data, as well as minutes of the Fed's last policy meeting for further direction.
Gold flourishes in a low-interest-rate environment and serves as a hedge against geopolitical uncertainties and inflation.
US President-elect Donald Trump is set to return to office on Jan. 20 and his proposed tariffs and protectionist policies are expected to fuel inflation.
This could prompt the Fed to go slow on rate cuts, limiting gold's upside. After three rate cuts in 2024, the Fed has projected only two reductions for 2025 due to persistent inflation.
The US central bank's benchmark policy rate should stay restrictive until it is more certain that inflation is returning to its 2% target, Richmond Federal Reserve President Thomas Barkin said on Friday.
Spot silver was down 0.2% at $29.57 per ounce, platinum dipped 0.7% to $931.30 and palladium fell 0.4% to $918.22.