Higher wheat prices push Egypt to increase price of subsidized bread for first time since 1989
In June 2024, the Egyptian government raised the price of subsidized traditional baladi bread to 20 piastres ($0.004)1 per loaf—quadrupling the old price of 5 piastres. The change—the first such increase since 1989—was triggered by a number of factors: Egypt’s heavy reliance on wheat imports due to...
| Autores principales: | , |
|---|---|
| Formato: | Blog Post |
| Lenguaje: | Inglés |
| Publicado: |
International Food Policy Research Institute
2024
|
| Materias: | |
| Acceso en línea: | https://hdl.handle.net/10568/168109 |
| Sumario: | In June 2024, the Egyptian government raised the price of subsidized traditional baladi bread to 20 piastres ($0.004)1 per loaf—quadrupling the old price of 5 piastres. The change—the first such increase since 1989—was triggered by a number of factors: Egypt’s heavy reliance on wheat imports due to limited arable crop base and growing population, along with high global wheat prices amid the Russia-Ukraine war, combined with the weakening of Egyptian pound (EGP) against the U.S. dollar in March 2024 and government efforts to reduce public spending. |
|---|