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Sweet Division predicts up to 20% Mawlid sweet price hike
The head of the confectionery division expects the prices of Mawlid al-Nabi sweets to increase by between 10% and 20% this year, despite the decrease in ingredient costs such as sugar by 23%. The rising operational costs and government fees imposed on traders are contributing to this trend. Additionally, the increase in these fees and labor costs hinder consumers from benefiting from the decline in raw material prices, as some factories are reducing production due to an economic slowdown. Meanwhile, the market is experiencing an oversupply of imported sugar, which has led to an 18% drop in its price. However, this has not directly affected confectionery prices due to higher other costs and local companies ceasing sugar shipments as the market deviates from balance—resulting from falling prices and inventory buildup.
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