Investments needed in Jordan’s food sector, urge chambers of commerce

AMMAN — As an important contributor to the local economy and driver of trade, it is crucial to attracting new investments to Jordan’s food sector, said Khalil Hajj Tawfiq, president of the Amman Chamber of Commerce and the Jordan Chamber of Commerce.

“In Jordan, we still need sufficient numbers of investments in the food sector,” Hajj Tawfiq told The Jordan Times on Tuesday. 

Hajj Tawfiq noted that there is interest among potential investors that has not yet been transformed into action. 

This Ramadan a marked decrease was evident in overall trade and business turnover, which dropped by around 25 per cent. Hajj Tawfiq attributed the dip to low purchasing power affecting the public. Locally, food expenditure has declined 10 per cent. 

However, “imports this year have increased as there are no difficulties preventing the exports of certain goods to a number of countries,” he said.

This Ramadan, demand for foodstuff increased three days before the month started, and demand continued into the first two days of the month. 

“Prices of food items have been stable, and there were no price increases, except for chicken and cucumber,” Hajj Tawfiq noted.