20-30% increase in commodity prices in Egypt due to global peaks: GOEIC


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Prices of imported goods have seen sharp increases ranging from 20 to 30 percent, affected by global peaks in freight and raw materials, according to Matta Bishai, head of the Internal Trade Committee of the General Importers Division of the General Organization. for Import and Export Control (GOEIC).

This has led to an abundance of commodities, especially as the market has been going through a major recession since before the COVID-19 outbreak.

Bishai added that the Egyptian market is full of raw material supplies, both local and imported.

He explained that the global changes observed in all countries of the world due to the crisis of supply chains, energy and the high price of shipping and raw materials, were reflected in the Egyptian market.

He said that the state had good stocks of strategic raw materials, in particular wheat and oils, and that the Egyptian market had not experienced any crisis like the one some countries are experiencing in terms of the availability of raw materials.

All products are abundantly available in traders’ stores, and neither part has experienced a shortage, he said, adding that the local price increases were caused by the global increase in raw materials and needs. of imported production.



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