{"id":621790,"date":"2024-06-03T00:00:00","date_gmt":"2024-06-03T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/sugar-price-hikes-next\/"},"modified":"2024-06-03T00:00:00","modified_gmt":"2024-06-03T00:00:00","slug":"sugar-price-hikes-next","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/sugar-price-hikes-next\/","title":{"rendered":"Sugar price hikes next?"},"content":{"rendered":"

Subsidized sugar price hikes next? <\/strong>Supply Minister Ali El Moselhy has proposed hiking the price of subsidized sugar to EGP 18 from EGP 12.6 per kilo, the minister said in statements to CNBC Arabia<\/a>. The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar, El Moselhy added. The proposal has not been approved yet by the government. <\/p>\n

Where does the proposal currently stand? <\/strong>The proposal hasn\u2019t been brought to the cabinet yet, cabinet spokesperson Mohamed El Homsani told Ala Masouleety\u2019s Ahmed Moussa (watch, runtime: 2:20<\/a>). \u201cNo decision has been made, but it may be under consideration,\u201d he added.<\/p>\n

It\u2019s been a busy week for subsidy cuts: <\/strong>The Madbouly government hiked the price of subsidized bread 300% \u2014 the first time bread subsidies have been touched in over 30 years \u2014 this weekend, as the government shifts from in-kind to cash subsidies. Electricity<\/a> hikes are expected in July and fuel price hikes<\/a> will likely follow suit. <\/p>\n

To hike or not to hike? <\/strong>\u201cThe government is yet to take any binding decisions on hiking electricity prices,\u201d El Homsani added (watch, runtime: 17:50<\/a>). <\/p>\n

Supplies are steady: <\/strong>Egypt\u2019s strategic reserves of sugar are sufficient until February 2025, Al Arabiya<\/a> quotes the minister as saying.<\/p>\n

Remember: <\/strong>Unsubsidized sugar prices saw a lot of volatility over the past period, with shortages pushing private shops<\/a> and supermarkets to hike prices to over EGP 55 a kilogram. <\/p>\n","protected":false},"excerpt":{"rendered":"

The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar<\/p>\n","protected":false},"author":1,"featured_media":621791,"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":[779,317,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-621790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commodities","tag-ali-el-moselhy","tag-commodities","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"5ebd8a65-dc04-49bb-849e-d21e620b9efb","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/156.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Sugar price hikes next?","related_issue":[621783],"teaser":"The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.763a60d6-2770-4c37-a788-708b6d618319.mp3"},"yoast_head":"\nSugar price hikes next? 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PLUS: HSBC + Juhayna, Nokia, Samih Sawiris\u2019 FTI Touristik, EgyptAir, Podcast Productions","author":"enterpriseam admin","date":"10 June 2024","format":false,"excerpt":"The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/800.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621314,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/this-evening-supply-minister-suggests-hiking-the-price-of-subsidized-sugar-by-43\/","url_meta":{"origin":621790,"position":1},"title":"THIS EVENING: Supply Minister suggests hiking the price of subsidized sugar by 43%","author":"enterpriseam admin","date":"2 June 2024","format":false,"excerpt":"Good afternoon, ladies and gentlemen. Another slow start to the business week here in Om El Donia as the temperatures start to rise once more. THE BIG STORY TODAY Pricier sugar ahead? Supply Minister Ali El Moselhy has proposed hiking the price of subsidized sugar to EGP 18 from EGP\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\/2024\/6\/102.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546814,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/30\/bread-subsidies-arent-changing-in-the-near-future-el-moselhy-says\/","url_meta":{"origin":621790,"position":2},"title":"Bread subsidies aren\u2019t changing in the near future, El Moselhy says","author":"enterpriseam admin","date":"30 May 2022","format":false,"excerpt":"Scrapping bread subsidies for banknotes is shelved for now, El Moselhy tells Senate: The Sisi administration\u2019s previously-floated plan to replace subsidized bread with cash transfers is not going to happen anytime soon, Supply Minister Ali El Moselhy told the Senate yesterday. \u201cWe can begin to consider this policy some time\u2026","rel":"","context":"In "Public policy"","block_context":{"text":"Public policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/public-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/394.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621047,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/el-moselhy-on-bread-price-hikes\/","url_meta":{"origin":621790,"position":3},"title":"El Moselhy on bread price hikes","author":"enterpriseam admin","date":"30 May 2024","format":false,"excerpt":"Bread prices was the one topic of discussion on the airwaves last night after Prime Minister Moustafa Madbouly announced hikes to the price of subsidized bread.The rationale: \u201cThe decision to raise the price of subsidized bread will help the state keep the subsidy program going,\u201d Supply Minister Ali El Moselhy\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\/2024\/5\/2538.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597092,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/","url_meta":{"origin":621790,"position":4},"title":"Egypt\u2019s new fuel prices are beginning to show their impact on food","author":"enterpriseam admin","date":"16 July 2019","format":false,"excerpt":"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\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\/2020\/1\/578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621161,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/02\/el-moselhy-continued-to-make-the-rounds-to-weigh-in-on-bread-price-hikes\/","url_meta":{"origin":621790,"position":5},"title":"El Moselhy continued to make the rounds to weigh in on bread price hikes","author":"enterpriseam admin","date":"2 June 2024","format":false,"excerpt":"Another carb-heavy night on the airwaves: The nation\u2019s talking heads didn\u2019t shift their attention from bread prices, following the Madbouly government\u2019s decision to slash bread subsidies, hiking the price of subsidized bread by 300%. Don\u2019t point the finger at the IMF: The IMF had nothing to do with the government\u2019s\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\/2024\/6\/70.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\/621790","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=621790"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/621790\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/621783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/621791"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=621790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=621790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=621790"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=621790"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=621790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}