Egypt: After increasing wheat by 400 pounds, will tourist bread prices be affected?

Published 2024년 5월 30일

Tridge summary

The article highlights the anticipated increase in the price of tourist bread in Egypt due to a significant rise in local wheat prices. Egypt, as the world's largest wheat importer, has seen a 21% increase in total wheat imports in the first quarter of this year. The price of wheat has surged by 400 pounds, reaching 13 thousand pounds per ton due to increased prices on international stock exchanges. Despite this, the Chamber of the Federation of Industries does not anticipate a substantial rise in tourist bread prices, attributing the slight increase in wheat and stable demand to any significant price changes. The Chamber has proposed providing flour to tourist bread bakeries at approximately 14,000 pounds to the government to maintain the set price for the tourist loaf and avoid any price hikes due to potential flour price increases.

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Original content

Written by: Sherine Salah: Abdel Ghaffar Al Salamouni, Vice President of the Grain Industry Chamber of the Federation of Industries, expected an increase in tourist bread prices after the current increase in wheat, but slightly. According to Al-Salamouni, who told Masrawy earlier, local wheat prices witnessed an increase of 400 pounds, after its increase on international stock exchanges, so that a ton currently reaches 13 thousand pounds. Egypt is considered the largest importer of wheat in the world. Egypt's total wheat imports jumped by 21% during the first quarter of this year to record about 3.35 million tons, compared to 2.75 million tons in the same period last year. Egypt imports wheat from about 22 different origins, the most recent of which are Moldova, Latvia, Lithuania, Brazil, India, and Serbia, but it mostly relies on only about 11 origins, the most prominent of which is Russia. Al-Salamouni explained to Masrawy that with the increase in wheat, there will be an ...

Source: EGmasrawy