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Food Industry VP cites war and costs push prices
Mohamed Edmattiy, Vice President of the Food Industries Chamber, expects the prices of food commodities to continue rising due to the ongoing war, current crisis, and increasing raw material costs. He noted that companies cannot operate at a loss, as their capital could be depleted within months. He pointed out that the profit margins in food companies are minimal and that price assessments will take place within 15 days, hopeful for a breakthrough and improvement in the markets. Additionally, he emphasized that global fluctuations in oil prices and statements from officials are causing significant market disruptions, and that Egypt is directly affected by these conditions, which he believes will persist as long as the international crisis continues.
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