Stable Bread Prices in Egypt Despite 10% MoM Drop in White Wheat Prices

Despite a 10% month-on-month (MoM) decrease in the price of white wheat in Egypt, dropping from USD 478.66/ton (EGP 23,000/ton) to USD 416.23/ton (EGP 20,000/ton) in Apr-24, the prices of bread and bakery products have remained the same. This is due to the inflation rate and the increase in the Egyptian government's electricity and benzene prices.