Egypt: The Vegetables Division expects onion prices to decline within a week after the decision to stop exports
Fresh Onion
Published Sep 21, 2023
Tridge summary
The Egyptian Prime Minister has agreed to stop the export of onions for three months in order to control prices and increase supply. Onion prices have been increasing due to a lack of supply and fulfilling export contracts from previous years. The Deputy Head of the Vegetables Division expects prices to gradually decline within a week of the export ban.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Written by Dina Khaled: Hatem Al-Naguib, Deputy Head of the Vegetables Division at the Cairo Chamber of Commerce, told Masrawy that the Prime Minister’s decision to agree to stop the export of onions for a period of three months, ending at the end of this year, will work to balance the markets and increase the supply of onions. Al-Najib expected that onion prices would begin to gradually decline within a week of the decision being issued. During its meeting today, the Council of Ministers agreed to stop the export of onions for a period of three months, ending at the end of this year, as part of controlling prices in the markets. This comes as the prices of onions witnessed successive and significant increases, as their price in the wholesale market ranged between 18 and 21 pounds, to be sold in the markets to the consumer at a price ranging between 25 and 30 pounds, according to Al-Najeeb. Al-Naguib explained earlier to Masrawy that the reason behind the rise in onion prices in ...
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