{"id":597092,"date":"2019-07-16T04:21:22","date_gmt":"2019-07-16T04:21:22","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/"},"modified":"2019-07-16T04:21:22","modified_gmt":"2019-07-16T04:21:22","slug":"egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/","title":{"rendered":"Egypt\u2019s new fuel prices are beginning to show their impact on food"},"content":{"rendered":"

<\/a> The impact of higher fuel prices is beginning to touch food. Exhibit A:<\/b> The Supply Ministry is studying raising the profit margin of subsidized bread bakeries to offset rising costs incurred by the latest fuel subsidy cuts<\/a>, Al Mal cited<\/a> an anonymous source as saying. The government could increase bakers\u2019 profit margin per sack of flour, which is enough to produce about 1,250 loaves, to between EGP 240-260 from EGP 220. Increasing the profit margin would entail lowering the price of the subsidized flour provided to bakers. The bakers believe a fair profit margin is EGP 280 per sack. Supply Minister Ali El Moselhy is set to meet with members of the bakers\u2019 division at Egypt\u2019s chambers of commerce within days to decide on the increase.<\/p>\n

Bread will still be sold to citizens at the same price of EGP 0.05 per loaf, so the additional cost burden will be shouldered by the government.<\/b> It is unclear how much the move would raise the state\u2019s subsidy bill, but the same move last year<\/a> had led the ministry to pay an additional EGP 5 bn a year on subsidized bread production.<\/p>\n

Exhibit B: Sugar beet crops could drop by between 33-50% to 300k-400k feddans in 2020<\/b> on the back of the fuel price hikes and challenging market conditions, Agriculture Ministry sources told the newspaper<\/a>. Sugar beet prices have stagnated at EGP 650 per tonne for the second year in a row, and higher fuel prices will increase the financial pressure on farmers. Sugar beet plantation season begins in August and runs through November before the harvest season in February. Companies last week refused a request by the ministry to raise the crop\u2019s price by EGP 150 per tonne, a move that the government hoped would encourage farmers to plant the crop.<\/p>\n","protected":false},"excerpt":{"rendered":"

The impact of higher fuel prices is beginning to touch food. Exhibit A: The Supply Ministry is studying raising the profit margin of subsidized bread bakeries to offset rising costs incurred by the latest fuel subsidy cuts, Al Mal cited an anonymous source as saying. The government could increase bakers\u2019 profit margin per sack of […]<\/p>\n","protected":false},"author":1,"featured_media":597093,"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":[8572],"tags":[97,317,72,819,190,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597092","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-agriculture","tag-commodities","tag-enterpriseam","tag-fuel","tag-social-welfare","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"79849273-040f-4b72-b55f-1cc3a114fb87","is_powered_by":true,"section_story_id":"564326f1-c1ed-4186-924a-cfd3aed803d2","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/1\/578.jpg","photo_position":"above","related_issue":[597081],"teaser":"","voice_url":""},"yoast_head":"\nEgypt\u2019s new fuel prices are beginning to show their impact on food - 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\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt\u2019s new fuel prices are beginning to show their impact on food\" \/>\n<meta property=\"og:description\" content=\"The impact of higher fuel prices is beginning to touch food. Exhibit A: The Supply Ministry is studying raising the profit margin of subsidized bread bakeries to offset rising costs incurred by the latest fuel subsidy cuts, Al Mal cited an anonymous source as saying. The government could increase bakers\u2019 profit margin per sack of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-07-16T04:21:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/578.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=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Egypt\u2019s new fuel prices are beginning to show their impact on food\",\"datePublished\":\"2019-07-16T04:21:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/\"},\"wordCount\":308,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/1\/578.jpg?fit=%2C&ssl=1\",\"keywords\":[\"agriculture\",\"commodities\",\"EnterpriseAM\",\"fuel\",\"social welfare\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/\",\"name\":\"Egypt\u2019s new fuel prices are beginning to show their impact on food - 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Subsidized bread production will cost state coffers an additional EGP 5 bn after\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"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":597092,"position":1},"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":645749,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/30\/flour-diesel-subsidies-officially-come-to-an-end-for-subsidized-bread-bakeries\/","url_meta":{"origin":597092,"position":2},"title":"Flour, diesel subsidies officially come to an end for subsidized bread bakeries","author":"enterpriseam admin","date":"30 July 2017","format":false,"excerpt":"Flour, diesel subsidies officially come to an end for subsidized bakers: The Supply Ministry unveiled its new subsidy system, which will come into effect in the first week of August. Wheat mills and bakeries will be required to pay the ministry market price for wheat and flour while holding the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631329,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/15\/supply-ministry-looking-into-raising-subsidized-bread-production-cost\/","url_meta":{"origin":597092,"position":3},"title":"Supply Ministry looking into raising subsidized bread production cost","author":"enterpriseam admin","date":"15 March 2018","format":false,"excerpt":"The Supply Ministry is looking into paying bakeries a higher fee for producing subsidized bread, unidentified sources tell Al Mal. Bakeries are required to purchase the raw materials for bread, including wheat and flour, at market price and then receive monetary compensation from the government for the end product. The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645004,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/10\/supply-ministry-raises-subsidized-bread-production-cost\/","url_meta":{"origin":597092,"position":4},"title":"Supply Ministry raises subsidized bread production cost","author":"enterpriseam admin","date":"10 July 2017","format":false,"excerpt":"Supply Ministry raises subsidized bread production cost: Supply Minister Ali El Moselhy agreed yesterday with the Federation of Egyptian Chambers of Commerce\u2019s bakeries division to raise the cost of subsidized bread production to EGP 180 per each 100 kg sack of flour, up from EGP 160, Al Masry Al Youm\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":647033,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/07\/egypt-mulls-adding-corn-flour-to-subsidized-bread-to-reduce-import-bill\/","url_meta":{"origin":597092,"position":5},"title":"Egypt mulls adding corn flour to subsidized bread to reduce import bill","author":"enterpriseam admin","date":"7 October 2024","format":false,"excerpt":"The proposal could save USD 35-41 per ton of wheat","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\/2024\/10\/435.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\/597092","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=597092"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/597092\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/597081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/597093"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=597092"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=597092"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=597092"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=597092"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=597092"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}