Prime Minister Mostafa Madbouly announced a series of government-private sector initiatives to reduce commodity prices, the cabinet stated on August 13th.

The Egyptian government is committed to cooperating with the Saudi private sector to restructure the Holding Company for Food Industries (HCFI) and its outlets.

The government has decided to offer significant incentives to investors to locally produce over 150 commodities of which imports exceed $25 billion annually, Prime Minister Mostafa Madbouly said in a press conference.

Egypt's strategic reserve of wheat is currently sufficient for six months.

The Central Bank of Egypt (CBE) may soon ease import restrictions on non-essential goods.

The total value of goods and merchandise released at Egyptian ports from the beginning of 2024 until the end of July reached $34 billion.

Egypt will soon allow private sector companies to list their goods on the Egyptian Mercantile Exchange (EMX) during the second half (H2) of this year.

The Egyptian government has released essential goods worth over $17 billion at ports since April, Minister of Finance Mohamed Maait announced.

Prime Minister Mostafa Madbouly has agreed with traders and heads of supermarkets chains to gradually reduce commodities prices by around 15% to 20% within 48 hours.

Around 11 Egyptian banks have completed the financing process of all the piled-up import orders of essential commodities at ports.

Egypt obtained a commercial loan worth $250 million from the African Finance Corporation (AFC) and the International Islamic Trade Finance Corporation (ITFC).

Egypt’s reserve of sugar provided to citizens on ration cards is sufficient for 5.6 months, the Ministry of Supply and Internal Trade announced in a statement .

Earlier this month, Al-Moselhy said that Egypt’s grain buyer General Authority for Supply Commodities (GASC) launched a tender to purchase 50,000 tons of raw cane sugar and/or 50,000 tons of refined white sugar from any origin.

Prime Minister Mostafa Madbouly assigned three ministers and relevant regulatory authorities to quickly develop a plan to prevent speculations that occurs in some major commodities, most notably sugar.

The Egyptian government has agreed with producers and retailers to cut prices of several food commodities by 15% to 25% for six months starting Saturday, October 14th.

Egypt’s strategic reserve of basic commodities is sufficient for 6 months.

Egypt's state grains buyer the General Authority for Supply Commodities (GASC) secured 535,000 tons of Russian wheat in an international tender funded by the World Bank, Ministry of Supply and Internal Trade announced on February 3rd. The shipment is scheduled to arrive between the second half of February and the first half of March.

The Egyptian Ministry of Supply and Internal Trade said that total sugarcane crop supplied by farmers during the 2023 season amounted to 1.4 million tons, producing up to 139,000 of sugar, according to a statement by the ministry on January 30th.

The Egyptian General Authority for Supply Commodities (GASC) has launched an international tender to book about 30,000 to 60,000 tons of wheat, according to a disclosure by the authority on January 31st.