CAIRO - 25 March 2024: The Egyptian government has decided to maintain the prices of unsubsidized bread without any increase, as stated by Minister of Supply and Internal Trade, Ali Moselhy, in an interview with Asharq Business.
This decision was influenced by a drop in flour prices of 40 percent in March. The cost of flour decreased from EGP 26,000 to EGP 16,000.
Minister Moselhy's comments were in response to statements made by the spokesperson of the bakeries division, who suggested that unsubsidized bread prices would rise by 20 percent to 25 percent due to increased diesel and sesame prices.
To tackle the rising production costs of subsidized bread loaves at bakeries using diesel and natural gas in their bakeries, the Egyptian government, specifically the General Authority for Supply Commodities (GASC), has decided to absorb these additional expenses.
This decision was prompted by recent fuel price hikes implemented by the Fuel Automatic Pricing Committee.
The Committee for Pricing Petroleum Products in Egypt recently announced adjustments to gasoline and diesel prices, stating that this decision came in line with global prices.
As part of the adjustment, the price of gasoline has been increased by one pound.
Comments
Leave a Comment