Egypt Watch

Prices of wheat and flour increase by about 20%

A member of the Board of Directors of the Chamber of Grain Industry in the Federation of Industries, Walid Diab, said that wheat and flour prices have increased by about 20% during the month. The price of a ton of flour ranged between 13,300 and 13,500 pounds, compared to 10,500 and 11,000 pounds in October, while the price of a ton of wheat ranged between 11,000 and 12,500 pounds, compared to 9,000 and 9,500 pounds in October.

Last month, the Chamber of Grain Industry sent letters to the Ministry of Supply and Internal Trade, the Ministry of Trade and Industry, and the Central Bank informing them that 80% of the private sector mills had stopped working because no wheat had entered the local market since September. According to the Chamber of Grain Industry, about 700 thousand tons of wheat were in the ports, but importers needed more dollars to receive it. The crisis extended to the prices of eggs, meat and milk, which are products that depend on fodder, most of which Egypt imports. According to Central Bank rules, importers must provide the total price of imports to allow ports to release shipment withholdings.

Hisham Abu al-Dahab, a member of the Grains Division at the Giza Chamber of Commerce, said that the increase in the prices of wheat and its derivatives was reflected in the increase in the prices of pasta, as it rose between three and four pounds per kilo during November.