{"id":617833,"date":"2024-03-28T00:00:00","date_gmt":"2024-03-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/juhayna-slashes-prices-by-15-18\/"},"modified":"2024-03-28T00:00:00","modified_gmt":"2024-03-28T00:00:00","slug":"juhayna-slashes-prices-by-15-18","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/28\/juhayna-slashes-prices-by-15-18\/","title":{"rendered":"Juhayna slashes prices by 15-18%"},"content":{"rendered":"<p class=\"tag-border-left\">COMMODITIES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Dairy giant Juhayna reduces prices by up to 18%: <\/strong>Juhayna has cut the prices of its dairy products by 18% and its juice products by 15%, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2518.pdf\" style=\"\" rel=\"noopener\">company statement (pdf)<\/a>. The move came after the government agreed with manufacturers, suppliers, and retailers to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2d637305-5938-4ad5-b7e6-318cad8bf8f7\/\" style=\"\" rel=\"noopener\">cut commodity prices by 15-20%<\/a> this week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>\u201cThe decision comes in line with the government\u2019s decisions to reduce prices<\/strong> and confront any negative effects that may affect the consumer. It also reflects the company\u2019s constant interest in supporting society and individuals and supporting the Egyptian consumer in light of the currency economic changes,\u201d read the statement.<\/p>\n<p class=\"tag-border-left\">ENERGY- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Oil and gas drilling company Ades Holding will work to boost oil production<\/strong><strong> at two<\/strong><strong> brownfields<\/strong><strong> in Egypt<\/strong> after landing a ten-year service agreement, it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2463.pdf\" style=\"\" rel=\"noopener\">a statement (pdf)<\/a>. Under the agreement, Ades will receive \u201cincremental production returns,\u201d the statement reads. The agreement has an option for a ten-year extension. The drilling giant signed the agreement with two subsidiaries of the Egyptian General Petroleum Corporation \u2014 <a target=\"_blank\" href=\"https:\/\/www.suco-eg.com\/aboutus.html\" style=\"\" rel=\"noopener\">Suez Oil Company<\/a> (SUCO) and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/company\/offshore-shukheir-oil-company-osoco\" style=\"\" rel=\"noopener\">Offshore Shukeir Marine Oil<\/a> (OSOCO) \u2014 and will partner on the projects with an unnamed \u201cleading local exploration and production player.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The details: <\/strong>The agreement will see Ades invest USD 30 mn in SUCO and USD 36 mn inOSOCO, over the first three years. The consortium\u2019s share of the additional production will range between 61% and 72% depending on production volume and price factors.The project is slated for launch in July 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The move came after the gov\u2019t agreed with suppliers and retailers to cut prices by 15-20% this week<\/p>\n","protected":false},"author":1,"featured_media":617834,"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":[7209],"tags":[8495,8369,7057,111,317,557,93,72,1027,91],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-617833","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-ades","tag-ades-holding","tag-ades-international","tag-also-on-our-radar","tag-commodities","tag-egyptian-general-petroleum-corporation","tag-energy","tag-enterpriseam","tag-juhayna","tag-oil-and-gas","wpautop","entry"],"acf":{"mongo_id":"2262f51d-d07d-4b1a-906b-5151cd8ae54a","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2531.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s dairy giant Juhayna cuts prices by 15-18%","related_issue":[617813],"teaser":"The move came after the gov\u2019t agreed with suppliers and retailers to cut prices by 15-20% this week","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.5a71eab1-49d4-4f81-8e40-53fd63938540.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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Juhayna joins its FMCG counterparts, who have reportedly increased their prices by 10-40% with the start of 2017. Juhayna had already raised\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","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":625667,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/12\/juhayna-not-planning-to-hike-prices\/","url_meta":{"origin":617833,"position":1},"title":"Juhayna not planning to hike prices","author":"enterpriseam admin","date":"12 August 2018","format":false,"excerpt":"Leading dairy and juice producer Juhayna is not planning to raise its product prices in response to the latest hike in the cost of energy and fuel, External Communications Head Passant Fouad tells Al Mal, noting that energy does not constitute a \u201clarge share\u201d of the company\u2019s overall costs. Cheesemaker\u2026","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","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":649733,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/07\/juhayna-hikes-prices-by-42-following-egp-float\/","url_meta":{"origin":617833,"position":2},"title":"Juhayna hikes prices by 42% following EGP float","author":"enterpriseam admin","date":"7 March 2017","format":false,"excerpt":"Juhayna increased prices by 42% due to a 50% spike in costs incurred by the EGP float, CEO Seif Thabet told Al Arabiya.","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","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":579007,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/22\/juhayna-founder-son-released-from-prison\/","url_meta":{"origin":617833,"position":3},"title":"Juhayna founder + son released from prison","author":"enterpriseam admin","date":"22 January 2023","format":false,"excerpt":"Juhayna founding family released from prison: Reuters is reporting that the founder and former CEO of dairy foods giant Juhayna, Safwan Thabet, and his son Seif Thabet (who has long been active in the business and was CEO after his father\u2019s arrest) have been released from prison. Safwan\u2019s daughter Mariam\u2026","rel":"","context":"In &quot;EGYPT IN THE NEWS&quot;","block_context":{"text":"EGYPT IN THE NEWS","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-in-the-news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/365.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553455,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/05\/earnings-watch-qalaa-juhayna-bdc-report-3q2021-results\/","url_meta":{"origin":617833,"position":4},"title":"Earnings watch: Qalaa, Juhayna, BdC report 3Q2021 results","author":"enterpriseam admin","date":"5 December 2021","format":false,"excerpt":"Qalaa Holdings\u2019 net losses narrowed slightly to EGP 440.7 mn in 3Q2021, down 0.6% y-o-y, according to the company\u2019s earnings release (pdf). Revenues soared 46% y-o-y to EGP 12.8 bn during the quarter, which the company says was buoyed by \u201ca global rally in commodity prices and improved refining margins\u201d\u2026","rel":"","context":"In &quot;EARNINGS WATCH&quot;","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648419,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/03\/juhayna-inaugurates-egp-600-mn-dairy-farm-in-bahariya\/","url_meta":{"origin":617833,"position":5},"title":"Juhayna inaugurates EGP 600 mn dairy farm in Bahariya","author":"enterpriseam admin","date":"3 April 2017","format":false,"excerpt":"Juhayna inaugurated yesterday its new EGP 600 mn dairy farm in Bahariya, Al Shorouk reports. The farm, which spans 10k feddans, will cover 10% of the company\u2019s raw milk needs, but the company will not cut back on purchasing milk from other farms, board of directors member Aqeel Bashir said.","rel":"","context":"In &quot;Basic Materials + Commodities&quot;","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\/617833","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=617833"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617833\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617813"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617834"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617833"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617833"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}