{"id":544809,"date":"2022-03-22T03:45:29","date_gmt":"2022-03-22T03:45:29","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/22\/govt-announces-price-caps-on-unsubsidized-bread\/"},"modified":"2022-03-22T03:45:29","modified_gmt":"2022-03-22T03:45:29","slug":"govt-announces-price-caps-on-unsubsidized-bread","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/22\/govt-announces-price-caps-on-unsubsidized-bread\/","title":{"rendered":"Gov\u2019t announces price caps on unsubsidized bread"},"content":{"rendered":"

<\/a> Price controls on unsubsidized bread are here:<\/strong> The Madbouly cabinet announced yesterday it is imposing price caps on unsubsidized baladi and fino bread for three months, according to a cabinet statement<\/a>.<\/p>\n

The breakdown:<\/strong> The decision imposed new price brackets for bread loaves based on their weight, setting the price of baladi bread at EGP 0.50 for 45-gram loaves, EGP 0.70 for 65-gram loaves, and EGP 1.00 for 90-gram loaves, according to a cabinet statement. A 1 kg package of bread is now priced at EGP 11.50. Prices for fino bread are now set between EGP 0.50 and EGP 1.00 for loaves weighing 40 to 80 grams.<\/p>\n

Violators will face fines between EGP 100k and EGP 5 mn<\/strong>, according to the decree. Bakeries are also required to clearly mark their product prices.<\/p>\n

The decision came as the rise in global wheat prices threatens to raise Egypt\u2019s wheat spending by <\/strong>EGP 15 bn this fiscal year<\/a><\/strong>, after the government assumed an average price of USD 255 per ton in this year\u2019s budget. A ton of wheat is currently trading at USD 368.75 per ton, according to market data<\/a>. President Abdel Fattah El Sisi ordered his government<\/a> to introduce the fixed pricing structure last week in a bid to hold down local prices amid surging global inflation, which led to local bread prices rising<\/a>.<\/p>\n

Meanwhile: Are we looking to India to fill the Ukraine- and Russia-shaped holes in our wheat import market mix? <\/strong>India, the world\u2019s second-largest producer of wheat, is reportedly in \u201cfinal\u201d talks to begin exporting wheat to Egypt, among other countries, India\u2019s Commerce Ministry said over the weekend, according to Bloomberg<\/a>. India is also in talks to begin exporting its wheat to China, Turkey, Bosnia-Hercegovina, Sudan, Nigeria, and Iran.<\/p>\n

Is India going to be able to plug the gap?<\/strong> India\u2019s wheat exports rose fourfold to around 6 mn tons from April 2021-January 2022, the business information service says. And the country\u2019s wheat production is expected to rise to a record 111.3 mn tons in the 2021-2022 agricultural season, from 109.6 mn tonnes during the previous season.<\/p>\n","protected":false},"excerpt":{"rendered":"

Price controls on unsubsidized bread are here: The Madbouly cabinet announced yesterday it is imposing price caps on unsubsidized baladi and fino bread for three months, according to a cabinet statement. The breakdown: The decision imposed new price brackets for bread loaves based on their weight, setting the price of baladi bread at EGP 0.50 […]<\/p>\n","protected":false},"author":1,"featured_media":544810,"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":[317,72,281,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-commodities","tag-enterpriseam","tag-moustafa-madbouly","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"14d38998-c17f-4e56-b6e5-ddb78d1e04f9","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/295.jpg","photo_position":"above","related_issue":[544801],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t announces price caps on unsubsidized bread - 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\/22\/govt-announces-price-caps-on-unsubsidized-bread\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t announces price caps on unsubsidized bread\" \/>\n<meta property=\"og:description\" content=\"Price controls on unsubsidized bread are here: The Madbouly cabinet announced yesterday it is imposing price caps on unsubsidized baladi and fino bread for three months, according to a cabinet statement. 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A pack of five balady loaves can now cost EGP 7.50 in Cairo, up from\u2026","rel":"","context":"In "Commodities"","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":550136,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/16\/private-bakeries-can-get-state-flour-if-they-stick-to-state-bread-prices\/","url_meta":{"origin":544809,"position":1},"title":"Private bakeries can get state flour if they stick to state bread prices","author":"enterpriseam admin","date":"16 October 2022","format":false,"excerpt":"Private bakeries can now get their hands on state wheat: Bakeries will join the list of private sector players eligible to buy wheat from state grain buyer GASC at EGP 10k per ton, according to a Supply Ministry statement.This is limited for now to bakeries in Greater Cairo, Alexandria and\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"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":544809,"position":2},"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 "LAST NIGHT\u2019S TALK SHOWS"","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":553038,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/17\/this-evening-govt-reintroduces-unsubsidized-bread-price-caps-were-missing-out-on-another-usd-75-mn-in-military-aid-from-washington\/","url_meta":{"origin":544809,"position":3},"title":"THIS EVENING: Gov\u2019t reintroduces unsubsidized bread price caps + We\u2019re missing out on another USD 75 mn in military aid from Washington","author":"enterpriseam admin","date":"17 October 2022","format":false,"excerpt":"Good afternoon, ladies and gentlemen. It\u2019s another reasonably brisk news afternoon here in Omm El Donia, with a little bit of everything from subsidy policy to diplomacy to keep us busy. THE BIG STORIES TODAY #1- Renewed price cap for unsubsidized bread from bakeries that use GASC flour: The government\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558303,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/04\/subsidized-bread-to-rise-in-price-for-first-time-in-a-generation\/","url_meta":{"origin":544809,"position":4},"title":"Subsidized bread to rise in price for first time in a generation","author":"enterpriseam admin","date":"4 August 2021","format":false,"excerpt":"SMART POLICY- Subsidized bread prices may increase for the first time in decades, after President Abdel Fattah El Sisi raised the prospect in a speech yesterday on the sidelines of an event that marked the opening of state-owned complex that will produce meals for school children (watch, runtime: 2:11). The\u2026","rel":"","context":"In "SUBSIDIES"","block_context":{"text":"SUBSIDIES","link":"https:\/\/enterpriseam.com\/egypt\/category\/subsidies\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/81.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":573811,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-supply-ministry-raises-compensation-for-subsidized-bread-bakers\/","url_meta":{"origin":544809,"position":5},"title":"Egypt\u2019s Supply Ministry raises compensation for subsidized bread bakers","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"The Supply Ministry is paying bakeries a higher fee for producing subsidized bread, according to a decision seen by Al Mal. Bakeries are required to purchase the raw materials for bread, primarily subsidized flour, from millers and then receive monetary compensation from the government for the end product. Bakeries that\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544809","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=544809"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544809\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544801"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544810"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544809"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544809"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}