Egypt Watch

New increases in prices of food commodities

The Ministry of Supply and Internal Trade has announced a rise in the prices of several food commodities. The new price list included an increase in oil prices by about 15% and pasta by about 31%. As a result, ration pasta will be sold at 5.25 pounds for a 400-gram package, instead of 4 pounds, and 10.5 pounds for an 800-gram package, instead of 8 pounds. As for oil, a bottle of 800 ml will be sold at 23 pounds instead of 20 pounds.

The price increases come as a result of the rise in wheat and oils prices globally, the rise in the prices of packaging requirements imported by Egypt, and the Central Bank’s decision on documentary credits, issued last February, which complicated import procedures.

The Ministry of Supply and Internal Trade contracts with factories affiliated with the National Service Authority and the business sector, in addition to private sector factories, to supply pasta to the ration system with a relatively lower quality than the pasta in the market and at prices that are adjusted every period according to the local and international prices of flour and wheat.