{"id":544688,"date":"2022-03-16T04:00:15","date_gmt":"2022-03-16T04:00:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/"},"modified":"2022-03-16T04:00:15","modified_gmt":"2022-03-16T04:00:15","slug":"price-controls-for-unsubsidized-bread-are-happening","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/","title":{"rendered":"Price controls for unsubsidized bread are happening"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Gov\u2019t to fix price and specifications of unsubsidized baladi bread: <\/strong>President Abdel Fattah El Sisi ordered the government to set a fixed price for unsubsidized bread yesterday, in the latest move to hold down local prices amid surging global inflation, according to an <a href=\"https:\/\/www.facebook.com\/photo.php?fbid=524957472326319&set=a.324472705708131&type=3\">Ittihadiya statement.<\/a><\/p>\n<p><strong>Local bread prices have climbed rapidly since the conflict in Ukraine began<\/strong>, with some reports suggesting that prices <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9382282-35a8-4bc8-8610-77361fd68e71\">have doubled<\/a> in recent days.<\/p>\n<p><strong>How much will it cost?<\/strong> The exact details will be announced \u201cwithin days,\u201d but industry professionals expect the unsubsidized loaf of baladi bread to cost around EGP 0.75 and to weigh around 90 grams, said head of the bakeries division at the Cairo Chamber of Commerce Attia Hamad in a phone-in with Ala Mas\u2019ouleety\u2019s Ahmed Moussa (<a href=\"https:\/\/www.youtube.com\/watch?v=23Tzvyd_PMg\">watch, runtime 9:21<\/a>). The decision sees the government providing flour to private bakeries at set prices for the next four months to ensure they sell them to consumers at the fixed price, Hamad said.<\/p>\n<p><strong>El Sisi has also told the government to offer incentives to farmers to ramp up wheat production <\/strong>to ensure sufficient supplies amid the global supply crunch. Incentives will be announced \u201cwithin hours,\u201d Deputy Agriculture Minister Mohamed El Kersh said last night in a phone-in with Al Hayah Al Youm (<a href=\"https:\/\/www.youtube.com\/watch?v=yLvLwHc3nK4\">watch, runtime 4:42<\/a>).<\/p>\n<p><strong>Farmers will be nudged to sell more of their wheat harvest to the government<\/strong>, according to a document seen by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-03-15\/egypt-moves-to-lock-in-local-wheat-buys-as-global-prices-surge\">Bloomberg<\/a>. The business information service appears to suggest that farmers taking incentives to plant more wheat will need to sell a minimum quota to the state. Farmers could also be prevented from selling the rest of their crop to other buyers without first getting a license, the document reportedly said.<\/p>\n<p><strong>More wheat, less expensive fertilizer:<\/strong> Farmers who provide at least 90% of their yield to the government this season will receive subsidized fertilizers for the summer, according to the document. Officials from the supply and trade ministries declined to give comment to Bloomberg.<\/p>\n<p><strong>The new measures come as the government tries to bump up local wheat cultivation (and to buy more of it to put in reserves)<\/strong> to make up for the shortage of Russian and Ukrainian wheat, whose exports have been heavily curtailed due to the conflict. The two countries provide around 80% of Egypt\u2019s wheat and account for more than a quarter of global supply. The government is now aiming to buy <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c9382282-35a8-4bc8-8610-77361fd68e71\">more than 6 mn tonnes<\/a> of domestic wheat this harvest season, up from its previous 5.5 mn-tonne target.<\/p>\n<p><strong>The government is upping its storage capacity to make space for additional supplies:<\/strong> The Supply Ministry now has space for 5.4 mn tons of wheat, up from around 3.4 mn tons previously, the cabinet said in a<a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/359203486250078\">statement<\/a>.<\/p>\n<p><strong>A wheat shipment is currently on its way from France<\/strong>, <a href=\"https:\/\/www.nasdaq.com\/articles\/french-wheat-cargo-loads-for-egypt-as-war-curbs-black-sea-supplies\">Reuters<\/a> reports. A vessel with about 30,000 tonnes of French wheat is incoming, in what appears to be a sale to a private importer, not state-buyer GASC, the news agency said.<\/p>\n<p><strong>Food protectionism is growing: <\/strong>Morocco became the latest country to introduce export curbs yesterday, announcing limits on tomato exports to hold down prices ahead of the Ramadan season, according to <a href=\"https:\/\/www.bloombergquint.com\/onweb\/morocco-squeezes-tomato-exports-as-inflation-fans-local-anger\">Bloomberg<\/a>. Argentina and Indonesia have taken similar measures to cut back specific exports, while Russia and Ukraine have in recent days announced export bans of food staples.<\/p>\n<p><strong>Egypt has put in place bans of its own<\/strong>, <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b0de30ab-61c5-41f0-a91f-f7ffd44cecd4\">last week announcing<\/a> that exports of food staples such as wheat, flour, corn and oils will be prohibited for the next three months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gov\u2019t to fix price and specifications of unsubsidized baladi bread: President Abdel Fattah El Sisi ordered the government to set a fixed price for unsubsidized bread yesterday, in the latest move to hold down local prices amid surging global inflation, according to an Ittihadiya statement. Local bread prices have climbed rapidly since the conflict in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":544689,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7305],"tags":[317,72,99,564,98,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544688","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-fertilizers","tag-food","tag-subsidies","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"7f8c48a0-63d6-4190-b16a-665a3a589b4e","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/203.jpg","photo_position":"above","related_issue":[544680],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Price controls for unsubsidized bread are happening - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price controls for unsubsidized bread are happening\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t to fix price and specifications of unsubsidized baladi bread: President Abdel Fattah El Sisi ordered the government to set a fixed price for unsubsidized bread yesterday, in the latest move to hold down local prices amid surging global inflation, according to an Ittihadiya statement. Local bread prices have climbed rapidly since the conflict in [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-16T04:00:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/203.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Price controls for unsubsidized bread are happening\",\"datePublished\":\"2022-03-16T04:00:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/\"},\"wordCount\":579,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/3\/203.jpg?fit=%2C&ssl=1\",\"keywords\":[\"commodities\",\"EnterpriseAM\",\"fertilizers\",\"food\",\"subsidies\",\"wheat\"],\"articleSection\":[\"Commodities\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/price-controls-for-unsubsidized-bread-are-happening\/\",\"name\":\"Price controls for unsubsidized bread are happening - 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President Abdel Fattah El Sisi ordered the government to set\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544522,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/08\/unsubsidized-bread-in-egypt-is-getting-pricier-as-russias-war-roils-the-wheat-markets\/","url_meta":{"origin":544688,"position":2},"title":"Unsubsidized bread in Egypt is getting pricier as Russia\u2019s war roils the wheat markets","author":"enterpriseam admin","date":"8 March 2022","format":false,"excerpt":"The price of unsubsidized bread in the Greater Cairo area has risen by as much as 50% in the course of a week as global wheat prices soar following Russia\u2019s invasion of Ukraine, Bloomberg reports. A pack of five balady loaves can now cost EGP 7.50 in Cairo, up from\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/89.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544696,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/16\/bread-prices-still-top-of-the-agenda-on-the-airwaves\/","url_meta":{"origin":544688,"position":3},"title":"Bread prices still top of the agenda on the airwaves","author":"enterpriseam admin","date":"16 March 2022","format":false,"excerpt":"Bread prices were still the topic du jour last night on our airwaves. The talking heads dedicated major chunks of their shows to the price controls on unsubsidized bread. Head to our commodities section (above) for all the details.","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544641,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/14\/govt-steps-in-to-lower-flour-prices-calls-for-metal-export-ban\/","url_meta":{"origin":544688,"position":4},"title":"Gov\u2019t steps in to lower flour prices + calls for metal export ban","author":"enterpriseam admin","date":"14 March 2022","format":false,"excerpt":"Rising food price inflation continued to dominate the airwaves last night, with most of the talking heads dedicating sizable portions of their shows to discussing bread prices and what the government is doing to tackle the problem. Bringing old prices back: In an effort to hold down bread prices, the\u2026","rel":"","context":"In &quot;LAST NIGHT\u2019S TALK SHOWS&quot;","block_context":{"text":"LAST NIGHT\u2019S TALK SHOWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544657,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/15\/govt-to-up-local-wheat-prices-and-cut-fertilizer-costs-and-appears-to-be-considering-price-caps-for-unsubsidized-bread\/","url_meta":{"origin":544688,"position":5},"title":"Gov\u2019t to up local wheat prices and cut fertilizer costs \u2014 and appears to be considering price caps for unsubsidized bread","author":"enterpriseam admin","date":"15 March 2022","format":false,"excerpt":"A raft of new wheat-related measures announced by the Madbouly government yesterday aim to bolster the country\u2019s food security in the wake of the Russia-Ukraine war.The Supply Ministry has once again hiked local wheat purchase targets: The government is now aiming to buy more than 6 mn tonnes of domestic\u2026","rel":"","context":"In &quot;Commodities&quot;","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/182.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544688","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544688"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544688\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544680"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544689"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544688"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544688"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544688"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544688"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544688"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}