The Egyptian government is considering implementing a new set of regulations to control the prices of various food items in the market. This includes granting an exemption from customs tax for imported goods for a three-month period. The decision will cover imported products such as medicines, frozen poultry, dairy, butter, sugar, pastries, oils, tea, and sugar.
In addition to this initiative, the government has announced plans to reduce the prices of essential commodities like beans, dairy products, white cheese, mixed oil, pasta, sugar, lentils, poultry products, eggs and rice. To achieve this goal, the government is taking measures to speed up customs clearance at ports and ease financial burdens on manufacturers and merchants to help lower costs.
Customs exemptions will apply to frozen meat from cattle and sheep as well as goats and poultry meat. Additionally hydrogenated animal and vegetable oils are also exempted. In response to rising fish prices in Egypt several governorates have successfully launched boycott campaigns that have led to a significant decrease in fish prices. The Port Said Chamber of Commerce reported that there was a 50%-70% drop in fish prices due to these boycotts with popular fish dishes like chub fish decreasing from 250 pounds per kilo to 100 pounds per kilo. These campaigns will continue until prices stabilize following recent fluctuations.
