Egypt: Changing fuel prices will not affect bread, according to General Division

The General Division of Bakeries at the Federation of Chambers of Commerce confirmed that the fuel price hikes that began Friday morning will not affect the selling price of a loaf of touristic baladi bread and fino bread in touristic and European bakeries. Khaled Sabry, a member of the General Division and its official spokesperson, told Al Mal that touristic and European bakeries had already applied increases ranging from 25 to 50 piasters in the selling price of all types of bread, “except for subsidized and state-subsidized bread,” during the month of September, which witnessed an increase in the selling price of butane gas cylinders. Sabry pointed out that the failure to apply new price increases in touristic and fino bread is due to the decline in consumer demand for purchases, as a result of its increase last month, saying: Bakeries are afraid to increase the price so that customers do not run away from them. The Petroleum Pricing Committee had approved a new increase in ...