Egypt Postpones Onion Export Ban to 1 OctoberSource: www.export-egypt.com 9/24/2023, Location: Africa |
|
|
|
|
|
Egypt's Ministry of Trade and Industry announced on Saturday that the Cabinet's decision to ban onion exports, initially scheduled to start late last week, will now take effect on 1 October, to honour previously arranged export agreements.
This announcement from the ministry comes in response to a statement issued by the Egyptian Customs Authority, as reported by various news outlets over the weekend, indicating a temporary suspension of the export ban decision. Last Wednesday, the Egyptian Cabinet announced a three-month ban on onion exports, in order to calm the rising prices in the local markets. Recently, onion prices in Egypt have surged to EGP 35 per kilogram in some local markets across Egypt, a significant increase from EGP27 the previous month and EGP12 a year ago. The can be attributed to intermediaries and some traders hoarding onions, according to recent comments by an official from the Ministry of Agriculture. Egypt harvests more than three million tons of onions annually and exports a third of of that number. Onions have traditionally been one of the most affordable vegetables in the country and are a staple in Egyptian cuisine. The average Egyptian consumes around 15 kilograms of onions per year. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
