Ministry of Supply and Internal Trade
During his keynote address at the regional forum titled "Accelerating Food System Transformation in the Arab Region" in Amman, Farouk also emphasized the importance of enhancing internal trade.
Furthermore, the document specifies that mills have also elevated the prices of flour supplied to local bread bakeries to LE 16,000 per ton, effective from the beginning of August, marking a 35 percent increase from the previous price of LE 11,800 per ton.
Their meeting focused on advancing combined endeavors to streamline the movement of essential commodities from storage facilities to commercial points in significant quantities.
The importance of conducting transactions in accordance with market mechanisms was emphasized, with the goal of achieving transparency and clarity at the highest levels.
During the meeting, Madbouly delegated the task of devising a plan to ensure the availability of goods and price control to Minister of Supply and Internal Trade, Sherif Farouk.
Furthermore, he anticipated a forthcoming decrease in the prices of essential food commodities, projecting a potential reduction of up to 25 percent in the coming weeks.
Minister Moselhi emphasized that Egypt’s strategic reserves of wheat can sufficiently cover Egyptians’ needs for 4 and a half months
Under the new measures, individuals holding ration cards will be entitled to an additional kilogram of sugar, extending the allowance for up to three people
In the past few weeks, consumers have witnessed a significant surge in sugar prices, leading to LE 50 per kilo in certain locations, worsened by stockpiling. Some merchants decided to hoard sugar in anticipation of potential government price hikes
Al Moselhi revealed that the government is actively working towards positioning Egypt as a prominent exporter of gold to Gulf countries, Italy, and Africa.
The hubs will provide facilities for the refrigeration, packing, and sorting of food products for local market distribution and exports
Through the 5-year agreement, Egypt will import milling wheat worth $100 million per year.
The final touches are being put in place for the Commodity Exchange Management Company for both the legal and the administrative aspects of the company.
Inspection campaigns were launched in six governorates.
Ministry of Supply and Internal Trade will start receiving the local wheat crop from farmers starting Sunday, April 15.
The 474 infringements occurred mainly in the form of market manipulation.
Egypt has signed deals to import 60,000 tons of sunflower oil and 30,000 tons of soybean oil, Minister of Supply and Internal Trade Ali El-Sayed Ali El-Moselhi said, according to state-owned Al-Ahram.
