Members of the Egyptian Chambers of Commerce have announced that the high costs of various in the Egyptian market are about to end.
They explained that there has been a breakthrough and that commodities, including rice, will be offered in gigantic quantities at reduced prices, with a build-up at the source of commodities in the new customer complexes.
Speaking to Al-Masry Al-Youm, they said the sugar crisis also ended and that the product would be provided at reduced prices, after the Ministry of Supply and Domestic Trade imported 150,000 tons of sugar.
They noted that the government has begun to offer encouraging projects and incentives for farmers to grow rice.
The head of the Food, Groceries and Spices Division at the Alexandria Chamber of Commerce, Hazem al-Menoufy, said the chambers were facing this dilemma by providing larger quantities in markets and customer complexes at reduced prices.
He added that the government also intervened forcefully against rice prices and confronted the manipulators, preventing them from storing rice and hiding it from citizens to dry the market and reduce its source, thus justifying its unfair increase in value.
Menoufy added that the government has begun offering encouraging incentives for farmers to grow rice and hand over their stocks to the government to offer in a way that restores balance in the market.
He explained that the state’s rice reserves are enough for 4 months.
Markets will see a breakthrough next week, when farmers offer the harvest after the era granted to them by the Minister of Supply and ends on Sunday.
The head of the department under the pressure that the government has been executing to introduce new permanent takeover complexes until the crisis of the superior value is overcome and the markets are controlled.
Fatima Abdel-Maqsoud, a member of the Food Division of the Cairo Chamber of Commerce, said chambers of commerce are running to solve the crisis of rice and some food products by providing customer complexes with gigantic quantities of rice, adding al-Ahram Company and Masreya Company. , at a price of LE 10. 5 per kilo to customers.
Food exposures will continue until the customer value crisis is overcome and markets are controlled, he added, noting that the severity of the crisis has decreased by 60 to 70 percent.
“Some commodities, such as beans and lentils, are still experiencing a crisis of sources as they cannot be fully obtained and Egypt is looking to import them from abroad, and the government and investors are looking to obtain them in the coming days so that their costs are according to their source,” he explained.
And the head of the Sugar Division of the Chamber of Food Industries of the Federation of Industries, Hassan al-Fandi, said that the Ministry of Supply intervened and imported 150,000 tons of sugar, which will mean a 30% drop in costs to achieve the customer in LE12 consistent with kilo.
Former Minister of Supply and Domestic Trade Gouda Abdel-Khalek noted that Egypt’s rice production amounts to five million tons a year, while Egyptians consume about 4 million tons and there is a surplus of about one million tons.
He added that there is a resolution to save the export of rice and it is intended that self-sufficiency be given, and yet despite that there is large-scale rice smuggling.
Abdel-Khalek explained that each acre of rice produces about 4 tons, and some land produces more or less, and lately the Egyptian government is racing to force farmers to supply one ton of rice per acre to markets.
Edited translation of Al-Masry al-Youm