Egypt decides to raise the price of subsidized edible oil to this level

The Egyptian Minister of Supply, Ali Al-Moselhi, said today, Thursday, that the price of subsidized edible oil will increase to 25 Egyptian pounds ($1.60) for a one-liter bottle, adding that it may decrease if inflation eases.

He added in a press conference in Cairo that Egypt’s reserves of edible oil are sufficient for five months.

In June, the Egyptian government raised the price of subsidized edible oil by 23.5% to EGP 21 per liter bottle, after a global jump in the prices of raw materials.

The Egyptian Minister of Supply stated that the price may drop next year if inflation declines.

In a related context, the minister said that Egypt’s strategic reserves of sugar are sufficient until mid-February, and that global inflation would have affected Egypt regardless of commodity imports.

 
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