Hormuz Strait influences oil prices
The article explains that prices of food commodities in the Egyptian market are experiencing varied movements, with some products like fava beans, flour, sunflower oil, and sugar seeing increases, while others such as meats, lentils, pasta, and corn oil are declining. The Food Items Division of the Federation of Chambers of Commerce confirmed that the overall market is stable, and that the limited price increases for some goods—generally not exceeding 5%—are primarily linked to the impact of the Strait of Hormuz on trade movement and supply chains. It also indicated that Egypt currently has abundant production of food products, which reduces reliance on imports and helps stabilize prices. Additionally, expectations are that meat prices will soon return to their normal levels due to increased local production and improved supply.
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