{"id":644806,"date":"2017-07-04T04:03:13","date_gmt":"2017-07-04T04:03:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/04\/private-sector-hikes-prices-in-response-to-the-fuel-subsidy-cuts\/"},"modified":"2017-07-04T04:03:13","modified_gmt":"2017-07-04T04:03:13","slug":"private-sector-hikes-prices-in-response-to-the-fuel-subsidy-cuts","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/04\/private-sector-hikes-prices-in-response-to-the-fuel-subsidy-cuts\/","title":{"rendered":"Private sector hikes prices in response to the fuel subsidy cuts"},"content":{"rendered":"<p><strong>Private sector hikes prices in response to the fuel subsidy cuts:<\/strong> Food producers are days away from announcing new prices that are expected to be 10-15% higher, industry <a href=\"https:\/\/alborsanews.com\/2017\/07\/03\/1034986\">executives tell Al Borsa<\/a>. The move comes as part of a series of measures companies are taking to offset production costs as a result of last Thursday\u2019s fuel hikes. These include adjusting profit margin projections and increasing exports, improving packaging and marketing capabilities, and decreasing the size and weight of products.<\/p>\n<p><strong>The auto industry is way ahead of the food sector on that with a number of companies raising prices on cars.<\/strong> GB Auto marked up its Hyundai and Geely models by EGP 1,600-8,000, <a href=\"http:\/\/www.almalnews.com\/Story\/338804\/18\/%D8%B1%D8%B3%D9%85%D9%8A%D9%8B%D8%A7---%D8%BA%D8%A8%D9%88%D8%B1-%D8%A3%D9%88%D8%AA%D9%88-%D8%AA%D8%B1%D9%81%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D9%87%D9%8A%D9%88%D9%86%D8%AF%D8%A7%D9%8A\">Al Mal said on Monday<\/a>, while <a href=\"http:\/\/www.almalnews.com\/Story\/338818\/18\/%D8%A7%D9%84%D9%85%D9%86%D8%B5%D9%88%D8%B1-%D9%84%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AA%D8%B1%D9%81%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%B4%D9%8A%D9%81%D8%B1%D9%88%D9%84%D9%8A%D9%87-%D8%A8%D9%802,4--9-%D8%A2%D9%84%D8%A7%D9%81-%D8%AC%D9%86%D9%8A%D9%87\">Al-Mansour Automotive<\/a> added some EGP 2,400-9,000 to the price of its Chevrolet brands. The move is expected to exacerbate the slump in auto sales driving it down by as much as 40% in the coming months, Egyptian Automotive Dealers Association head <a href=\"http:\/\/www.youm7.com\/story\/2017\/7\/3\/%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9-%D8%AA%D8%AC%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-4%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A3%D8%B9%D9%84%D9%86%D8%AA-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D9%88%D8%A3%D8%AA%D9%88%D9%82%D8%B9-%D8%A7%D9%86%D8%AE%D9%81%D8%A7%D8%B6-%D8%A7%D9%84%D9%85%D8%A8%D9%8A%D8%B9%D8%A7%D8%AA\/3309153\">Osama Aboul Magd tells Youm7<\/a>. The price hikes might also change the market dynamics from the demand-side as consumers will be looking for models that offer them higher fuel efficiency, El Masria Auto CEO Shady Rayan says.<\/p>\n<p><strong>Fertilizer companies\u2019 hopes to raise price were thwarted<\/strong> as the government reportedly denied their request yesterday to raise product prices by EGP 500-1000 per tonne, <a href=\"http:\/\/www.almalnews.com\/Story\/338778\/14\/%D8%A7%D9%84%D8%B2%D8%B1%D8%A7%D8%B9%D8%A9-%D8%AA%D8%B1%D9%81%D8%B6-%D8%B7%D9%84%D8%A8%D8%A7%D8%AA-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%A7%D9%84%D8%A3%D8%B3%D9%85%D8%AF%D8%A9-%D8%A8%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1\">the newspaper adds<\/a>. Authorities will be paying the additional cost of EGP 3 mn a month to transport some 200k tonnes of fertilizers to avoid passing on costs to farmers, Agricultural Union head Mamdouh Hamada says.<\/p>\n<p><strong>The government has been making efforts to coordinate with the private sector to limit the inflation, <\/strong>which, according to Vice Minister of Finance Ahmed Kouchouk <a href=\"http:\/\/af.reuters.com\/article\/egyptNews\/idAFL8N1JU2CK\"><strong>is expected to rise by 3-4.5%<\/strong><\/a>. Supply Minister Ali El Moselhy and members of the Federation of Egyptian Chambers of Commerce agreed during a Monday meeting that shipping and good transport fees should not rise by more than 10% in response to the most recent hike in fuel prices, <a href=\"http:\/\/www.almalnews.com\/Story\/338800\/14\/%D8%A7%D9%84%D9%85%D8%B5%D9%8A%D9%84%D8%AD%D9%89-%D8%AA%D9%83%D9%84%D9%81%D8%A9-%D9%86%D9%82%D9%84-%D8%A7%D9%84%D8%A8%D8%B6%D8%A7%D8%A6%D8%B9-%D9%88%D8%A7%D9%84%D8%B3%D9%84%D8%B9-%D9%84%D9%86-%D8%AA%D8%B2%D9%8A%D8%AF-%D8%B9%D9%86-10%D8%A8%D8%A7%D9%84%D9%85%D8%A6%D8%A9%20\">Al Mal reports<\/a>. The Finance Ministry also decided to relieve the shipping and unloading of imported goods from the value-added tax \u2014 backtracking on a decision it had issued early in June \u2014 in a possible effort to keep shipping costs lower, <a href=\"http:\/\/www.almalnews.com\/Story\/338726\/14\/%D8%A7%D9%84%D8%AC%D9%85%D8%A7%D8%B1%D9%83-%D8%AA%D9%84%D8%BA%D9%89-%D8%A7%D9%84%D9%82%D9%8A%D9%85%D8%A9-%D8%A7%D9%84%D9%85%D8%B6%D8%A7%D9%81%D8%A9-%D8%B9%D9%84%D9%89-%D9%86%D9%88%D9%84%D9%88%D9%86-%D8%A7%D9%84%D8%B3%D9%84%D8%B9-%D8%A7%D9%84%D9%85%D8%B3%D8%AA%D9%88%D8%B1%D8%AF%D8%A9\">according to Al Mal<\/a>.<\/p>\n<p>Meanwhile, the <strong>MPs who never tire of grandstanding are asking for price controls<\/strong>, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1157229\">according to AMAY<\/a>. Some, such as MP Mohamed Elsewedy, also demanded that the government pay farmers higher prices for agricultural products such as barley, sugarcane, and beets to offset the effects of inevitable inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Private sector hikes prices in response to the fuel subsidy cuts: Food producers are days away from announcing new prices that are expected to be 10-15% higher, industry executives tell Al Borsa. The move comes as part of a series of measures companies are taking to offset production costs as a result of last Thursday\u2019s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-644806","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ae4433e9-ef64-437a-8333-bc044ce0265f","order":"0","is_powered_by":true,"section_story_id":"835ef6e9-d69d-4348-9039-55242ebb947b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[644796],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Private sector hikes prices in response to the fuel subsidy cuts - 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\/2017\/07\/04\/private-sector-hikes-prices-in-response-to-the-fuel-subsidy-cuts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Private sector hikes prices in response to the fuel subsidy cuts\" \/>\n<meta property=\"og:description\" content=\"Private sector hikes prices in response to the fuel subsidy cuts: Food producers are days away from announcing new prices that are expected to be 10-15% higher, industry executives tell Al Borsa. 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The government will pay 15% more for transport providers who haul the food and petroleum products it buys under the subsidy program after recent fuel\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":597092,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/16\/egypts-new-fuel-prices-are-beginning-to-show-their-impact-on-food\/","url_meta":{"origin":644806,"position":1},"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 &quot;Speed Round&quot;","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":570945,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/23\/egypt-nearly-halves-fuel-subsidy-spending-in-2020-2021-budget\/","url_meta":{"origin":644806,"position":2},"title":"Egypt nearly halves fuel subsidy spending in 2020-2021 budget","author":"enterpriseam admin","date":"23 April 2020","format":false,"excerpt":"FinMin nearly halves projected fuel subsidy spending in 2020-2021 budget: The Finance Ministry is allocating EGP 28.1 bn to subsidies for petroleum products in FY2020-2021, down by nearly half from EGP 52.9 bn in FY2019-2020 forecasts, according to figures obtained by Masrawy. Prior subsidy cuts, the collapse in global oil\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":596721,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/07\/government-raises-fuel-prices-phasing-out-remaining-fuel-subsidies\/","url_meta":{"origin":644806,"position":3},"title":"Government raises fuel prices, phasing out remaining fuel subsidies","author":"enterpriseam admin","date":"7 July 2019","format":false,"excerpt":"Government raises fuel prices, phasing out remaining fuel subsidies: The government raised fuel prices by between 16% and 30% over the weekend as it introduced the latest round of fuel subsidy cuts, the Oil Ministry announced in a statement. The price of 95 and 92-octane rose by 16% and 18.5%,\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/5\/757.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627944,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/19\/government-hikes-fuel-prices-by-c-50\/","url_meta":{"origin":644806,"position":4},"title":"Government hikes fuel prices by c. 50%","author":"enterpriseam admin","date":"19 June 2018","format":false,"excerpt":"Fuel price hikes came into effect over the long weekend: The government raised the price of fuel products by c. 50%, according to a detailed price list put out by the Oil Ministry. The subsidy cuts were necessary to save the FY2018-19 budget around EGP 90 bn in fuel subsidy\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":594685,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/04\/egypts-non-oil-business-activity-shrinks-again-in-august\/","url_meta":{"origin":644806,"position":5},"title":"Egypt\u2019s non-oil business activity shrinks again in August","author":"enterpriseam admin","date":"4 September 2019","format":false,"excerpt":"Non-oil business activity shrinks again in August: Falling output caused activity in Egypt\u2019s non-oil private sector to contract in August after a month of expansion in July, according to the Markit\/Emirates NBD purchasing managers\u2019 index (PMI) (pdf). The PMI gauge fell to 49.4 in August from 50.3 in July, indicating\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/9\/3005.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\/644806","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=644806"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/644806\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/644796"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=644806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=644806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=644806"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=644806"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=644806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}