CAIRO: The Ministry of Supply agreed Thursday with Sudan to import large amounts of Sudanese meat during Eid al-Adha at competitive prices in a bid aiming towards surrounding price hikes along with keeping up with citizens’ growing needs, said Mamdouh Abdel Fattah, deputy head of the General Authority for Supply Commodities Thursday, Mubasher reported.
Chairman of the General Federation of the Egyptian Chamber of Commerce Ahmed al-Wakeel assured that during the next period, “we would focus on increasing trade and investment relations with Sudan to provide job opportunities to Sudanese and Egyptian youth and increase cooperation between the two countries.”
In Aug. 8, Minister of Supply Khalid Hanafi was quoted by Al Hayat TV channel saying, “the government is set to provide large quantities of imported meat for low prices for citizens during the forthcoming period as a step from the government to avoid price hike of meat.”
“The subsidized meat will be offered to citizens through wholesales complexes,” he added.
Large quantities of this imported meat will be offered in slums and poor areas in a governmental bid to ease poor people’s burdens, he said, pointing out that the government will diversify its sources of import from countries such as Sudan, Australia and Brazil along with increasing distribution outlets.
Following the Cabinet’s decision in early July for surging oil prices, many prices have witnessed a sudden surge ranging between 10-50 percent due to the hike in transportation fees and production costs, Sada el-Balad news gate reported in July.
Haytham abdel Bassit, head of the butchers’ division at Cairo Chamber of Commerce, announced that the meat prices saw a 10 percent increase due to the increase in energy prices, which negatively impacted transportation and production costs, it said.
In its last statistical bulletin, the Central Agency for Public Mobilization and Statistics (CAPMAS) noted that the monthly inflation rate in Egypt increased by 3.3 percent in July compared to 0.9 percent in June. This was the highest rate since May 2008 with 4.7 percent.
The report attributed the past surge of the inflation rate to the intensive demand in goods and services and the hike of oil, electricity, and tobacco prices.
Additional reporting by Ahmed Abu Shady.