2024-08-06 17:32:33
The Egyptian Ministry of Supply raised the selling prices of wheat, both local and imported, directed to mills to produce subsidized bread by about 20%, to reach 13,750 pounds per ton.
According to the “Economy of the East” website, a government document explained that “the mills also raised the prices of flour supplied to local bread bakeries to 16,000 pounds per ton starting from the beginning of August, compared to the previous price of 11,800 pounds per ton, an increase of 35%.”
A government official told Asharq Al-Awsat: “There will be no change in the prices of subsidized local bread. The increase will be borne by the state budget, and will not affect the price of the subsidized loaf, which is 20 piasters on the food support card, in any way,” noting that the aim of the decision is to “control the wheat system in mills and bakeries.”
Egypt is the world’s largest importer of wheat, and provides subsidized bread to more than 70 million people as part of a massive food support program. The monthly individual share is 150 loaves, since the smart card system began operating in April 2014. Egypt produces 270 million loaves daily, through 32,000 local bakeries in all governorates of the country.
Last May, the Egyptian government decided to raise the price of a subsidized loaf of bread by 300%. Prime Minister Mostafa Madbouly said, “The price of a subsidized loaf of bread will reach 20 piasters for the first time in 30 years,” noting that “the cost of a loaf of bread to the government is 125 piasters,” noting that “his country will switch to cash support instead of in-kind support starting from the fiscal year 2025-2026.”
Last updated: August 5, 2024 – 14:01
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2024-08-06 17:32:33