Egyptian products which got banned from being exported
  • Egyptian products which got banned from being exported
  • 06 Apr 2022

Egyptian products which got banned from being exported

War is mass destruction that devours cultures, destroys families, and leads to global food supply disruptions that will definitely cause huge global price hikes.

As a result of the war that broke out between Russia and Ukraine, many governments have taken a set of decisions to maintain their economy such as banning the export of some products or imposing restrictions on the economy, which aims to activate attempts to self-sufficiency.

The skillful mindset of the Egyptian government always paves the way to go through these crises, it has made a couple of decisions, one of them is to ban exporting some Egyptian products such as:

 Wheat, flour, oils, corn, lentils, pasta, beans, grits, and mashed.

So due to the war, the Egyptian government has made a couple of decisions, one of them is to ban exporting some Egyptian products such as:

 Wheat, flour, oils, corn, lentils, pasta, beans, grits, and mashed.

This decision came out because of the importance of these goods in the Egyptian food market.

And since the outbreak of the war, the price of many commodities such as bread has increased by 50%,so the government is actually planning to spend an additional 15 billion pounds to cover wheat imports to meet the needs of Egyptian families.

 Let us shed some light on how it goes and how actually the war there between Russia and Ukraine affects prices in the Egyptian market?

 Egypt imports about 75% of its corn needs, 30% of them comes from Ukraine, and because chicken feed is made from corn, the price of chicken and eggs in the Egyptian market has increased.

As per the previously mentioned decision, Egypt has enough reserves for up to seven months, as the Egyptian government aspires to provide basic commodities for a period of up to six months.

The decision will not contribute to reducing prices but will maintain the stability of these goods and achieve the limit of self-sufficiency in the Egyptian market.

 It is also known that Egypt exports small quantities of manufactured oils in the form of a finished product that is packaged, wrapped , and the decision contributes to stabilizing the price in the market, especially with the advent of the holy month of Ramadan, where the consumption of various food commodities increases.

The latest releases of the Central Agency for Public Mobilization and Statistics show that Egypt’s exports of vegetable and animal fatty oils rose to $78.8 million during the first 8 months of 2021, compared to $63.3 million during the same period in 2020.

 The decision to ban the export of Egyptian oils came based on the high prices of oils since the outbreak of the Russian-Ukrainian war.

 Where the price jumped by about 4500 pounds per ton, to record about twenty-nine thousand and five hundred pounds in the wholesale market, compared to twenty-five thousand pounds before the outbreak of the war.

The Ministry of Trade and Industry’s decision to ban the export of some Egyptian products such as flour, pasta, beans, broad beans and lentils, will lead to an abundance of these strategic commodities, enhance reserves, and prevent any increase in commodity prices.

 Attempting to control the price of these commodities in particular by preventing their export is a smart move by the Egyptian government that will be weighed in its wise decisions.

 Even if this decision is limited to a period of three months, it will have a long run positive impact in supporting the Egyptian economy.

The decision was positively reflected on the Egyptian citizens, who felt safe and proud under the banner of the Egyptian government and its rational decisions that are evident in global crises.

People will not forget the steadfastness of the Egyptian economy, despite the economic collapse of many countries at the time of the Corona crisis, which lasted for more than a year and its effects continue to this day on many people and governments.

Egypt always remarks a huge success in overcoming crises with the wisdom of its leaders and experts, who take the right decision at the right time.