Supply minister Ali el-Meselhi - File Photo
CAIRO - 9 July 2017: Minister of Supply Ali el-Meselhi held a meeting with the chairman of the Federation of Egyptian Chambers of Commerce, Ahmed el-Wakil, among others on Sunday to agree on the cost of producing the subsidized baladi bread.
The meeting discussed the cost of production inputs and the profit margins for bakeries. The attendees agreed that the cost of producing 100 kg of flour, which produces 1,250 loaves of bread, will be LE 180, as the Supply Ministry will incur the latest hikes in diesel prices.
Egypt has hiked fuel prices by up to 55 percent this month as part of the economic reform program that includes slashing energy subsidies.
Meselhi promised that the new production cost will come into effect as of August, stressing on the importance of abiding by the quality standards when producing the baladi bread.