Before the start of Ramadan, the price of fava beans in Egypt rises by two thousand pounds per ton in the market

Published Mar 21, 2023

Tridge summary

The article highlights a significant increase in the prices of local and imported beans in the Egyptian markets, due to the approaching Ramadan month and the resulting higher demand. The price of a ton of local fava beans has risen from 24,000 to 26,000-28,000 pounds, and imported beans' price per ton has increased from 19,000 to 21,000 pounds. Mohamed Suleiman, a member of the Grain Division at the Cairo Chamber of Commerce, anticipates that these high prices will persist until after Ramadan, followed by a period of stability, and believes that the harvest season starting in May will contribute to lower prices. Egypt's fava bean market is predominantly reliant on imports, with a 85:15 ratio.

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

Original content

I wrote – Dina Khaled: The prices of local beans witnessed an increase in the markets during the current week, with the approaching month of Ramadan, and a ton rose by about two thousand pounds. Mohamed Suleiman, a member of the Grain Division at the Cairo Chamber of Commerce, said that fava beans prices rose to between 26,000 and 28,000 pounds per ton, compared to 24,000 pounds per ton a week ago. Suleiman added that the price of a kilo of imported beans hit 21,000 pounds per ton, compared to 19,000 pounds a week ago. He attributed this increase to the increased demand for beans with the approaching month of Ramadan, when the pressure on beans is greater during the Suhoor meals. Suleiman expected prices to witness a state of calm after the end of Ramadan and the ...

Source: EGmasrawy