Egypt's supply minister meets bakers, grain chamber on bread costs

Supply Minister Sherif Farouk met bakers and grain industry officials to review flour milling, subsidized bread, and the cost of producing free tourist and fino bread.

• Farouk convened the meeting with the General Division of Bakeries and the Grain Industry Chamber of the Federation of Egyptian Industries.
• The meeting discussed the production cost of free tourist bread and fino bread in light of production inputs, flour trading, and available market quantities.
• Farouk affirmed continued intensification of monitoring campaigns on markets, mills and bakeries, and legal action against unjustified price increases.
• The ministry said it will maintain strategic commodity reserves and continue diversifying wheat import sources.
• The ministry said it is taking proactive steps to secure wheat needs, including receiving domestic wheat this season amid global market volatility.
• Bakery Division deputy head Hani Makki said tourist and fino bread prices remain unchanged, with no increase yet implemented.
• Makki said fine flour has risen from about 17,000 to 21,000 Egyptian pounds per ton in the ongoing market review.
• He said a full review with the supply minister is scheduled for Sunday amid the talks with the ministry.
• Bakeries division head Abdullah Gharab said the division submitted a 15% price-increase demand, still under study by the supply ministry.