Moselhy added that this decision came in light of the dropping in flour prices by 40% in March, to record EGP 16,000 down from EGP 26,000.
The Egyptian government decided to keep unsubsidized bread prices unchanged without any increase, Minister of Supply and Internal Trade, Ali Moselhy, told Asharq Business.
Moselhy added that this decision came in light of the dropping in flour prices by 40% in March, to record EGP 16,000 down from EGP 26,000.
These statements from the minister came in response to recent comments made by the spokesperson of the bakeries division, who indicated that unsubsidized bread prices would rise by 20% to 25% due to increased diesel and sesame prices.
To address the rising costs of producing subsidized bread loaves at bakeries that use diesel and natural gas in their bakeries, the Egyptian government, represented by the General Authority for Supply Commodities (GASC), has announced its decision to absorb the increased expenses.
This decision was prompted by the recent fuel price hikes implemented by the Fuel Automatic Pricing Committee.
The Committee for Pricing Petroleum Products in Egypt recently announced the adjustment of gasoline and diesel prices, indicating that the decision aligns with global prices.
According to the committee's decision, the price of gasoline has been increased by one pound.
