Egypt: A decline of 2000 pounds in the price of fava beans within 40 days

Published Feb 3, 2022

Tridge summary

The article highlights a notable decrease in the prices of municipal beans in Egypt by 2000 pounds per ton over the past 40 days, with the current price per kilo now between 18 and 24 pounds. On the other hand, imported beans have seen a 20% price increase due to rising freight costs, leading to a ton price range of 9,500 to 11,000 pounds and a kilo price range of 12 to 18 pounds for consumers. A significant portion of Egypt's bean consumption (about 85%) is imported from countries like Taiwan, Australia, and Canada. In anticipation of Ramadan, when bean consumption is expected to rise by approximately 40%, traders are ensuring adequate stocks. A slight price increase is forecasted for beans in the days leading to Ramadan due to increased demand and purchasing power.

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Original content

Obour Al-Attar, Deputy Head of the Agricultural Crops Division at the Cairo Chamber of Commerce, said that the prices of municipal beans witnessed a decline of 2000 pounds per ton during the past 40 days, with the availability of the product significantly during the current period. A thousand pounds per ton in total, currently, reaching the consumer at about 18 and 24 pounds per kilo. Al-Attar noted that the prices of imported beans are currently stable after the recent increase of 20% as a result of the increase in freight prices, noting that the increase in freight prices greatly affected all the prices of imported goods, but especially low-priced commodities such as beans, which caused an increase in prices Shipping The imported quantities decreased significantly, but traders were forced to import again at high freight rates to prevent crises in the local market. Al-Attar explained that the price of a ton of imported beans has currently reached 9,500 to 11,000 pounds per ton, ...

Source: Amwalalghad