The rise in the prices of tourist bread, affected by the increase in “wheat” globally
Some bakeries raised the prices of tourist bread after the increase in flour in the local market, affected by the rise in wheat prices globally, so that the loaf rose at a price of one pound to 1.5 pounds. In Egypt, the prices of tourist bread are due to the high price of flour extracted from wheat.
He added that the price of wheat remains the main controller in the prices of bread, and therefore the drop in bread prices is closely related to the price of wheat.
He explained that the price of tourist bread is subject to supply and demand, and it rises if the prices of the main production inputs increase.
The strategic reserve of wheat allocated for the production of subsidized bread arrives after receiving the Ministry of Supplying local wheat from farmers during the next season, to enough to cover the needs of local consumption and the production of subsidized bread until the end of the year
. % of global wheat trade, according to US CNBC data, while US Department of Agriculture data indicate that Russia was the largest wheat supplier to Egypt last season.
Att said Yeh Hammad, Head of the Bakeries Division at the Cairo Chamber of Commerce, said that the expected increase in baked goods will be different from one region to another and from one product to another, especially since they are non-compulsory priced goods.
He added that bakery prices will not stop increasing. As long as the price of flour continues to rise, affected by the changes in the Russian-Ukrainian war and economic changes in the world.
Amr Al-Hayatami, a member of the Board of Directors of the Grain Chamber of the Federation of Industries, said that the decline in the price of flour depends on the end of the Russian-Ukrainian war, which are considered
He added that Egypt relies to supply its wheat needs on importing the bulk of consumption, and therefore the crisis will continue until the global situation stabilizes.
The price of a ton of flour reached between 7 and 8 thousand pounds, in light of the rise in wheat prices in the local market by about 1500 pounds per ton since the beginning of the Russian war on Ukraine, reaching about
) pounds per ton, according to the Cairo Chamber of Commerce.