“Nobody with power is looking at what they’re doing,” he says. ![]() “My instinct tells me that a very careful analysis of this market would show that the price is not reflective of supply chain problems, that there’s just too much leeway for the big banks and the big producers to manipulate if no one is looking and watching what they’re doing,” says Greenberger, the former division director of the Commodity Futures Trading Commission (CFTC), the main regulator of US energy markets. This inadequately regulated activity is hitting Americans’ pockets and represents a “market emergency”, according to Michael Greenberger, a former US government trading regulator. The amount of trades – and the profits associated with them – have been skyrocketing, reaching record highs in 20. Our priority as we work to resume our programs is to respond to urgent needs while also continuing our ongoing work assisting farmers so that the upcoming agricultural season is not disrupted, which would have far-reaching consequences for food security.So if high prices are not being driven by scarcity, what’s going on?Įxperts are warning that little-publicized energy traders, most of whom work for the world’s largest oil companies, banks and privately held trading houses, are partly to blame. The Mercy Corps offices in Gedaref and South Kordofan are now operational, and we are also working to ramp up our humanitarian response in Khartoum and South Darfur. ![]() We call on all parties to ensure security for humanitarian organizations and the communities we serve, allowing us to deliver urgently needed assistance." "Humanitarian organizations in Sudan are facing formidable challenges in meeting the exponentially growing humanitarian needs, and our staff face enormous personal risks and our offices have been looted. Mercy Corps has re-opened offices in Gedaref and South Kordofan, and we are providing access to seeds and other inputs." "Food security is also likely to worsen if the next planting season is disrupted, which would devastate food production. The violence in Khartoum has also affected the affordability of basic goods elsewhere in Sudan, including in Gedaref, where prices for a basic basket of goods have increased by an average of 41%. Fuel prices in Khartoum have increased by 1,251%, and the price of wheat flour, rice, and sugar have all increased by 100% or more. "Information gathered by our teams shows a staggering 134% increase in the average price of basic essentials in Khartoum, where hundreds of thousands remain trapped in crossfire. Roughly one-third of the population already needed humanitarian assistance even before this recent fighting began. Millions left behind are now facing a dire humanitarian emergency, with shortages of food, water, medicines and fuel leading prices to skyrocket and making these essentials completely unaffordable for many and worsening the lives of those who could barely make ends meet prior to the start of the conflict. "More than 100,000 people have already fled Sudan to neighboring countries since the escalation of violence on April 15th. Mercy Corps Country Director for Sudan, Sibongani Kayola, says, ![]() ![]() Mercy Corps warns that the prices of food, fuel, water and other essentials in Sudan are skyrocketing as fighting enters its third week and humanitarian organizations confront enormous security and operational challenges in responding to significant displacement and rapidly escalating needs.
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