{"id":545970,"date":"2022-04-19T03:33:43","date_gmt":"2022-04-19T03:33:43","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/19\/state-cracks-down-on-bakeries-indian-wheat-to-the-rescue\/"},"modified":"2022-04-19T03:33:43","modified_gmt":"2022-04-19T03:33:43","slug":"state-cracks-down-on-bakeries-indian-wheat-to-the-rescue","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/19\/state-cracks-down-on-bakeries-indian-wheat-to-the-rescue\/","title":{"rendered":"State cracks down on bakeries + Indian wheat to the rescue?"},"content":{"rendered":"

<\/a> The government has seized goods and equipment from <\/strong>bakeries it says engaged in price g<\/strong>ouging<\/strong>, with a cabinet statement<\/a> saying the Interior Ministry has logged more than 14k cases.<\/p>\n

The details: <\/strong>The government has seized flour, bread, smart cards, and tills from bakeries that sold unsubsidized bread at prices higher than those set by cabinet last month<\/a> \u2014 or who otherwise violated regulations on bread standards and bakery operations (like taking more subsidized wheat than they were eligible for, or failing to advertise their prices and opening hours). Bakeries selling above price caps face fines between EGP 100k and EGP 5 mn.<\/p>\n

Bakers aren\u2019t the only ones under the microscope: <\/strong>The state has also seized foodstuffs, building materials<\/a>, butane cylinders, car engine oils, medical supplies, cosmetics and other products from traders who tried to hold back stock or sell at a premium to fair market prices. The ministry statement cites some 6.8k cases since cabinet introduced controls in early March to tamp down on rising prices amid soaring global commodities prices.<\/p>\n

The CPA is also on the case: <\/strong>The Consumer Protection Agency has filed over 3k reports since 7 March detailing cases in which it claims retailers failed to post their prices, issue invoices, or account for the origin of their goods, or who sold goods at inflated prices, according to the statement.<\/p>\n

Key commodities remain available and at reasonable prices, <\/strong>the Interior Ministry said. Meanwhile, the Agriculture Ministry said the recent spike in the price of tomatoes (which we can anecdotally confirm) has stabilized after it upped supply to the local market.<\/p>\n

MEANWHILE<\/strong>- The Agriculture Ministry is working with the national poultry federation to <\/strong>introduce contract farming for corn<\/strong>, the statement read, without providing further details on what that might look like. The state hopes the total cultivated area for corn will reach 3 mn feddans this year. The move is part of a bid to reduce farmers\u2019 reliance on imported feed.<\/p>\n

Global corn prices approached a decade-high as they passed USD 8 \/ bushel yesterday, <\/strong>on the back of supply chain disruptions exacerbated by the ongoing war on Ukraine, Bloomberg<\/a>reports.<\/p>\n

India to the rescue on wheat imports?<\/p>\n

India hopes to export 3 mn tonnes of wheat to Egypt this year<\/strong>, the head of the country\u2019s agricultural exports body told Times of India<\/a> after the Madbouly government earlier this week added the country to our list of wheat suppliers<\/a>. That would represent around a quarter or more of our annual imports. We\u2019re sure you don\u2019t need reminding that before the war, Russia and Ukraine provided more than 80% of our imported wheat \u2014 spurring the government to diversify supply once the conflict cut off Ukrainian supply and sent market prices soaring.<\/p>\n

India is the world\u2019s second-largest wheat producer after China <\/strong>and has become a key supplier<\/a> to countries hit by the fallout from the Ukraine war. The country could potentially ship 12 mn tons in 2022-2023, up from 8.5 mn tons last year, helping to ease the pressure on global supply and bring down food prices that have shot to record highs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The government has seized goods and equipment from bakeries it says engaged in price gouging, with a cabinet statement saying the Interior Ministry has logged more than 14k cases. The details: The government has seized flour, bread, smart cards, and tills from bakeries that sold unsubsidized bread at prices higher than those set by cabinet […]<\/p>\n","protected":false},"author":1,"featured_media":545971,"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":[1748,317,1747,72,1404,891,1341,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-545970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-bakeries","tag-commodities","tag-consumer-protection-authority","tag-enterpriseam","tag-india","tag-madbouly-government","tag-russia-ukraine-conflict","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"92f4b4ca-5ca7-46f5-b048-d298e43bd4ed","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/318.jpg","photo_position":"above","related_issue":[545964],"teaser":"","voice_url":""},"yoast_head":"\nState cracks down on bakeries + Indian wheat to the rescue? - 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\/04\/19\/state-cracks-down-on-bakeries-indian-wheat-to-the-rescue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State cracks down on bakeries + Indian wheat to the rescue?\" \/>\n<meta property=\"og:description\" content=\"The government has seized goods and equipment from bakeries it says engaged in price gouging, with a cabinet statement saying the Interior Ministry has logged more than 14k cases. 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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":573811,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-supply-ministry-raises-compensation-for-subsidized-bread-bakers\/","url_meta":{"origin":545970,"position":2},"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":[]},{"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":545970,"position":3},"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 "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":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":545970,"position":4},"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 "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\/182.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544809,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/22\/govt-announces-price-caps-on-unsubsidized-bread\/","url_meta":{"origin":545970,"position":5},"title":"Gov\u2019t announces price caps on unsubsidized bread","author":"enterpriseam admin","date":"22 March 2022","format":false,"excerpt":"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\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\/295.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\/545970","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=545970"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/545970\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/545964"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/545971"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=545970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=545970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=545970"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=545970"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=545970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}