{"id":644161,"date":"2024-09-22T00:00:00","date_gmt":"2024-09-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/22\/govt-continues-to-crack-down-on-strategic-commodities-hoarding\/"},"modified":"2024-09-22T00:00:00","modified_gmt":"2024-09-22T00:00:00","slug":"govt-continues-to-crack-down-on-strategic-commodities-hoarding","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/22\/govt-continues-to-crack-down-on-strategic-commodities-hoarding\/","title":{"rendered":"Gov\u2019t continues to crack down on strategic commodities hoarding"},"content":{"rendered":"

It was another eventful Thursday at the cabinet<\/strong>, with the country\u2019s ministers approving a<\/a><\/a>number of decisions<\/a>. <\/p>\n

#1- Strategic commodities get extended protection:<\/strong> Rice, sugar, blended oil, fava beans, white cheese, milk, and pasta will continue to be designated as strategic commodities for another six months after the cabinet approved the decision. This would prohibit the hoarding or withholding of these commodities to ensure they remain available in the market and at a stable price. <\/p>\n

Remember:<\/strong> The government deemed<\/a> these goods as strategic commodities for a six-month period in January. <\/p>\n

#2- Italian funds incoming: <\/strong>The ministers approved a EUR 3 mn Italian grant<\/a> to provide technical support for leather, furniture, and marble industrial zones in Egypt to optimize their production capacities. The funds will be funneled into the Robbiki Leather City in Badr City, Damietta Furniture City, and Shaq El Tebaan \u2014 the largest marble and granite industrial cluster in the country.<\/p>\n

#3- Germany to<\/strong> back Egypt\u2019s MSMEs: <\/strong>Cabinet greenlit a draft presidential decree regarding a 2021 financing agreement with the German government that grants us funds to support MSMEs and allow them to create more jobs. The financing also aims to support vocational education in Egypt, helping us set up 25 vocational and technical training centers. <\/p>\n","protected":false},"excerpt":{"rendered":"

Rice, sugar, blended oil, fava beans, white cheese, milk, and pasta will continue to be designated as strategic commodities<\/p>\n","protected":false},"author":1,"featured_media":644162,"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":[7306],"tags":[282,317,72,7196,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-644161","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet-watch","tag-cabinet-watch","tag-commodities","tag-enterpriseam","tag-industry","tag-smes","wpautop","entry"],"acf":{"mongo_id":"efd9abd2-b668-4456-8171-e1ba45f67e06","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/1608.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Gov\u2019t continues to crack down on strategic commodities hoarding","related_issue":[644151],"teaser":"Rice, sugar, blended oil, fava beans, white cheese, milk, and pasta will continue to be designated as strategic commodities","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.ee0bcb73-a4fd-4fdc-8261-9205cfe8585c.mp3"},"yoast_head":"\nGov\u2019t continues to crack down on strategic commodities hoarding - 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\/2024\/09\/22\/govt-continues-to-crack-down-on-strategic-commodities-hoarding\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t continues to crack down on strategic commodities hoarding\" \/>\n<meta property=\"og:description\" content=\"Rice, sugar, 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for a 6-month period or until further notice","rel":"","context":"In \"commodities\"","block_context":{"text":"commodities","link":"https:\/\/enterpriseam.com\/egypt\/tag\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/46.JPG?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":615981,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/27\/house-approves-stricter-sentences-for-hoarding-food\/","url_meta":{"origin":644161,"position":1},"title":"House approves stricter sentences for hoarding food","author":"enterpriseam admin","date":"27 February 2024","format":false,"excerpt":"Those hoarding key food commodities will be given sentences of one year in prison and fines between EGP 150k-3 mn","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/2603.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578186,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/19\/a-new-task-force-will-suggest-fair-prices-for-up-to-15-strategic-commodities\/","url_meta":{"origin":644161,"position":2},"title":"A new task force will suggest fair prices for up to 15 strategic commodities","author":"enterpriseam admin","date":"19 December 2022","format":false,"excerpt":"The Supply Ministry has set up a committee to determine the \u201cfair price\u201d of a number of foods classed as strategic commodities amid soaring inflation. Representatives from the Consumer Protection Agency, the Federation of Egyptian Industries, and the Federation of Egyptian Chambers of Commerce will decide prices for between 10\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\/12\/384.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":570069,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/17\/cbe-extends-cash-cover-for-basic-foodstuffs\/","url_meta":{"origin":644161,"position":3},"title":"CBE extends cash cover for basic foodstuffs","author":"enterpriseam admin","date":"17 March 2020","format":false,"excerpt":"The Central Bank of Egypt has extended the exclusion period for some basic food commodities, namely rice, lentils and fava beans, from their 100% cash cover for one year until 15 March 2021, Al Mal reports.","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":647601,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/15\/egypt-needs-to-produce-15k-tonnes-of-fava-beans-more-to-meet-demand\/","url_meta":{"origin":644161,"position":4},"title":"Egypt needs to produce 15k tonnes of fava beans more to meet demand","author":"enterpriseam admin","date":"15 May 2017","format":false,"excerpt":"Egypt needs to increase its output of fava beans by 15k tonnes annually to 277k tonnes to meet domestic demand, Agriculture Minister Abdel Moneim El Banna says, according to Al Borsa. There is a 6% gap between demand and domestic supply, El Banna says. The minister went on to note\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":629932,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/04\/supply-ministry-reduces-prices-on-subsidized-commodities-ahead-of-ramadan\/","url_meta":{"origin":644161,"position":5},"title":"Supply Ministry reduces prices on subsidized commodities ahead of Ramadan","author":"enterpriseam admin","date":"4 April 2018","format":false,"excerpt":"The Supply Ministry has decided to reduce the prices of some subsidized commodities, including sugar, dates, flour, lentils, and fava beans ahead of Ramadan, Food Industries Holding Company head Alaa Fahmy said. The price reductions will be in effect from 10-13 May.","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\/644161","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=644161"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/644161\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/644151"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/644162"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=644161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=644161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=644161"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=644161"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=644161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}