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بوابة الشروق
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Food prices rise amid Hormuz tension
The article addressed the impact of the Strait of Hormuz on the prices of some food commodities in Egypt. Ahmed Atabai, a member of the Food Products Section at the Federation of Chambers of Commerce, confirmed that disruptions in the strait have led to further increases in the prices of fava beans, flour, sunflower oil, sugar, poultry, and cheese. Meanwhile, the prices of meat, lentils, and corn oil declined compared to the previous day. He explained that the prices of some goods experienced a slight increase of no more than 5% due to the surrounding circumstances of the waterway, emphasizing that Egypt currently holds abundant stock of high-quality products. He also noted that there is relative market stability and no tariffs are being imposed on basic commodities. Additionally, he pointed out that the rising meat prices are due to decreased poultry consumption and increased demand, with an expectation that their prices will soon return to normal as cattle breeding resources increase.
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