logo
Egypt's Bakeries Division reveals expected increase in Fino bread prices

Egypt's Bakeries Division reveals expected increase in Fino bread prices

The head of the Bakeries Division, Abdullah Ghorab, said that a meeting will be held on Sunday at the Chamber of Commerce to coordinate with the Ministry of Supply and Internal Trade regarding the price of tourist (non-subsidized) and Fino bread, following the recent increase in fuel prices.
During a phone interview with Ahmed Moussa's TV show 'Ala Massoulity' (On My Responsibility) on Saturday evening, Ghorab said that there will be an increase in the price of tourist and Fino bread.
He pointed out that baking a sack of flour consumes 16 liters of diesel.
Ghorab explained that the price of tourist and Fino bread is expected to increase by no more than 25 percent, noting that the weight of the loaf will remain unchanged.
He pointed out that the increase in diesel prices significantly impacts bread production.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Egypt launches nationwide price reduction initiative to ease living costs - Economy
Egypt launches nationwide price reduction initiative to ease living costs - Economy

Al-Ahram Weekly

timea day ago

  • Al-Ahram Weekly

Egypt launches nationwide price reduction initiative to ease living costs - Economy

As part of broader efforts to stabilize domestic markets and ease pressure on citizens, the Egyptian government has launched a nationwide initiative to reduce the prices of essential commodities, the Cairo Chamber of Commerce announced on Tuesday. The initiative—set to roll out in the coming days—follows directives from Prime Minister Mostafa Madbouly to establish effective mechanisms for market regulation, ensure the availability of basic goods, and support low- and middle-income households. Public–private cooperation intensifies On Monday, the Ministry of Supply and Internal Trade convened a high-level meeting with the Federation of Egyptian Chambers of Commerce (FEDCOC), attended by Supply Minister Sherif Farouk, FEDCOC President Ahmed El-Wakeel, Cairo Chamber Chairman Ayman El-Ashry, and representatives from major retail chains and supply companies. Speaking at the meeting, El-Ashry emphasized the private sector's readiness to support the state's efforts, noting that traders and suppliers have pledged to voluntarily reduce profit margins to help lower prices without compromising product quality or availability. 'This initiative represents a timely and strategic response to current market pressures. We are committed to engaging constructively to ensure fair pricing and consistent supply for consumers, particularly those most affected by recent economic challenges,' El-Ashry said. Targeting core commodities The initiative will primarily target core commodities, including food staples, cooking oil, rice, dairy products, and household goods. Participating retailers will adjust prices to better reflect actual production costs and consumer purchasing power. According to the Ministry, the campaign will be accompanied by increased monitoring efforts and coordination with local chambers to ensure transparency and prevent manipulation or artificial shortages. Balancing market mechanisms Officials clarified that the initiative does not signal a return to state price controls but instead aims to reinforce free-market principles through voluntary cooperation and targeted supply chain interventions. Minister Farouk reiterated the government's commitment to striking a balance between market freedom and consumer protection, pledging continued regulatory and technical support to private sector stakeholders. Toward sustainable market stability Beyond immediate price cuts, the government is pursuing structural reforms, including expanding domestic production, strengthening local supply chains, and encouraging investment in strategic sectors such as agriculture and food processing. Participants at the meeting agreed on the importance of maintaining open dialogue between the public and private sectors to safeguard market stability and supply chain resilience. As global inflationary pressures persist, Egypt's coordinated effort to reduce local prices represents a key step toward protecting household budgets and preserving social cohesion. Egypt's annual inflation rate eased to 14.4 percent in June, down from 16.5 percent in May, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The monthly Consumer Price Index (CPI) edged down by 0.1 percent to 258.1 points—the first decline in several months. Globally, the US Federal Reserve held interest rates steady at 4.5 percent amid moderated growth in the first half of 2025, elevated inflation, and the economic impacts of the Trump administration's renewed tariff policy. Follow us on: Facebook Instagram Whatsapp Short link:

Data Reveals: Egypt's Rising Gold Export Value Driven by Global Prices, Not Industrial Growth
Data Reveals: Egypt's Rising Gold Export Value Driven by Global Prices, Not Industrial Growth

See - Sada Elbalad

time27-07-2025

  • See - Sada Elbalad

Data Reveals: Egypt's Rising Gold Export Value Driven by Global Prices, Not Industrial Growth

Waleed Farouk Despite recent discussions about a surge in Egypt's gold exports, available data paints a different picture, indicating that there hasn't been a substantial boom. Statistics show that roughly 90% of the gold exported is raw gold—a long-standing practice in the Egyptian market aimed at securing foreign currency and providing local cash liquidity. This trend became more apparent after the Central Bank intervened and lifted the valuation fees on raw gold exports, following an earlier decision by the Ministry of Supply and Internal Trade in 2021 to impose those fees in line with those applied to jewelry exports. Why Have Export Values Increased? The primary reason is the rise in global gold prices, not an actual increase in export volumes or an improvement in local industry. Therefore, much of the narrative from the Precious Metals Division seems more like an attempt to maintain media visibility. The most critical indicator in this context is the volume of jewelry exports, as it is the only metric that reflects real added value for the domestic industry. In contrast, collecting scrap gold, melting it, and reselling it abroad does not constitute genuine industrial growth. How Much Jewelry Does Egypt Export? This question can only be answered precisely through official data issued by the Assay and Weights Authority and Customs Authority. However, according to sector sources, following the December 2022 decision by Minister of Supply and Internal Trade Dr. Ali Al-Moselhy to remove valuation fees on jewelry exports, some companies attempted to enter the export market. Nevertheless, the numbers remain limited. Business owners confirm that Egypt's total jewelry exports since the beginning of the year have not exceeded 100 kilograms—a modest figure compared to regional markets. Moreover, the total value read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language

Abou El-Enein: Egypt Is China's Most Important Strategic Partner
Abou El-Enein: Egypt Is China's Most Important Strategic Partner

See - Sada Elbalad

time25-06-2025

  • See - Sada Elbalad

Abou El-Enein: Egypt Is China's Most Important Strategic Partner

Nada Mustafa Prominent Businessman Mohamed Abou El-Enein, Parliament Deputy Speaker emphasized that Egypt is offering substantial incentives to global investors and multinational companies, highlighting the importance of empowering youth and preparing them for the digital transformation era. His remarks came during a press conference held on the sidelines of the Sixth QINGDAO Multinationals Summit in China. The event was featured by media host Ahmed Moussa on his show Ala Mas'ouliyati (On My Responsibility), broadcast on 'Sada El-Balad' TV channel. Abou El-Enein noted that China is delivering massive projects across the African continent and in Egypt, describing the bilateral relations between the two nations as strong and cordial. Moreover, he highlighted key milestones in the Egypt-China partnership, including the establishment of a Chinese university in Egypt and large-scale infrastructure and supply chain projects. Abou El-Enein also praised China's meticulous planning and execution of projects, calling it 'an ancient civilization embracing Egypt's own rich historical legacy.' The Egyptian lawmaker stressed that Egypt is China's most important partner, providing a strategic gateway for Chinese investors to expand operations and localize industries within the country. "We have advanced engineering industries and a growing electric vehicle manufacturing sector,' he added. Furthermore, Abou El-Enein concluded by emphasizing that Egypt's political leadership is focused on attracting investment and offering unique advantages to international companies operating within the country. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks Videos & Features Video: Trending Lifestyle TikToker Valeria Márquez Shot Dead during Live Stream News Shell Unveils Cost-Cutting, LNG Growth Plan Technology 50-Year Soviet Spacecraft 'Kosmos 482' Crashes into Indian Ocean

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store