Lentil prices in Egypt rise by 100%, and the import bill records 1.4 billion pounds within 8 months

Published 2021년 12월 8일

Tridge summary

The article highlights the significant increase in the cost of lentil imports in Egypt, with the import bill surging by 31.2% in the first eight months of 2021, compared to the same period in 2020, reaching $77.994 million. This is due to a 100% rise in the price of imported lentil tonnage, now priced between $1200 and $1280, up from $600-700 last season. Despite making up 97% of Egypt's lentil supply, local production is inefficient due to low yields, leading to heavy reliance on imports from countries such as Canada, Australia, and Russia. The article also notes that the winter season sees a 40% increase in lentil demand, with the majority of annual consumption occurring during this period.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Egyptian consumer is associated with a number of habits that he is keen on, especially in the winter season, the most important of which is eating “lentil soup”, so tomorrow’s money sheds light on the prices of the commodity and its development in Egypt, as well as the Egyptian market needs of this commodity, as well as the volume of its import and the cost of the import bill. According to the data of the Foreign Trade Bulletin issued by the Central Agency for Public Mobilization and Statistics, of which Amwal Al Ghad obtained a copy, the value of Egypt’s import bill of lentils increased by 31.2% during the period from “January-August 2021” to reach $77.994 million, exceeding EGP 1.37 billion (average The price of the dollar was 15.75 pounds) compared to $59.457 million during the same period of 2020, while it declined during August only by 73.3% to record $1.292 million, compared to $4.835 million during the same month of 2020. The prices of lentils witnessed a 100% increase ...

Source: Amwalalghad