Egypt, Cairo Chamber: 20% increase in the prices of local and imported beans, and demand will recover with the school season

Published 2021년 11월 9일

Tridge summary

Fava bean prices in Egypt have surged between 15 and 20% due to rising freight costs, impacting both local and imported beans significantly. The cost of imported beans has escalated to between 9000 and 10500 pounds per ton, translating to consumer prices of 14 to 18 pounds per kilo. On the other hand, municipal beans, which make up 15% of the market, have seen prices rise due to a decrease in crop yield, reaching 11.5 to 13.5 thousand pounds per ton, resulting in consumer prices of 16 to 24 pounds per kilo. This comes as imports of broad and small beans for non-seeding purposes have dropped by 9.9% in the first eight months of 2021, totaling $166.798 million, down from $185.071 million during the same period in 2020.

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Original content

Obour al-Attar, deputy head of the Agricultural Crops Division at the Cairo Chamber of Commerce, said that fava beans prices have increased between 15 and 20% during the recent period, whether local or imported beans. Noting that the increase in freight prices greatly affected all prices of imported goods, but especially low-priced goods such as beans, as the rise in freight prices caused a noticeable decline in imported quantities, but traders were forced to import again at high freight prices to prevent crises in the market Al-Attar explained that the price of a ton of imported beans has currently reached 9000 to 10500 pounds per ton, bringing the price of a kilo for the consumer to 14 and 18 pounds for the importer, noting that about 85% of our consumption of beans is imported from 5 countries, including Lithuania, Australia and Canada. Municipal beans rose due to the decline in the crop, to record 11.5 to 13.5 thousand pounds per ton, bringing the consumer by 16 and 24 pounds ...

Source: Amwalalghad