Crazy price increases and the thirst of markets for basic commodities to subject Egyptians to the military

In a continuous aggravation of aspects of life in Egypt, followed by the military governments that control the lives of the Egyptian people, price increases continue and the imposition of arbitrary measures that lead to an increase in the prices of food and all commodities in the Egyptian markets.
The markets of most cities have become thirsty for basic commodities such as sugar, whose crises have returned again despite the talk about Egypt’s self-sufficiency in producing sugar, which is repeated with flour, rice and oils in most neighborhoods.
In addition to food commodities, the prices of building materials recorded successive increases in recent months, with rates exceeding 70% in some materials, despite companies and factories exporting the same commodities at prices lower than their cost, due to the recession and economic downturn caused by the suspension of building licenses across Egypt. Except for projects implemented by the army.
Iron prices rose from 9,950 pounds per ton last year to 15,500 pounds, or 62%, and the price of cement increased 52% from 720 pounds to 1,100 pounds, musky wood 72%, aluminum 46%, and glass 43%, excluding sand, asphalt, bricks and lime and ceramics.
The recent rises are due to the decrease in supply in the local market by 30% on average, after the decision of the Competition Protection and Monopolistic Practices Authority to oblige 23 cement companies in Egypt to reduce their production, after the surplus of the market’s need rose to about 40 million tons.
Besides, there is another reason related to the increase in the price of supplying gas to energy-intensive factories from 4.5 dollars per million thermal units to 5.75 dollars. Although most cement factories work with coal, diesel and waste, and a few of them work with gas, all companies raised their prices with the rush to raise prices. .
It is likely that raising the price of gas for iron factories will raise the cost of a ton in integrated factories by 200 pounds per ton and 20 pounds in rolling mills.
Data from the Export Council for Building Materials revealed a revival in Egyptian building materials exports during the first 9 months of 2021, compared to the same period in 2020, as cement exports increased by 202%, iron 193%, copper 123%, and insulation materials 60%, Marble 57%, aluminum 47%, sanitary ware 35%, and glass 27%, while ceramic exports fell 3.6%.
This is despite the crisis at home and the high prices for the citizen, which confirms that the state and the regime are working to thwart the local market, until the crises worsen and the citizen does not find it necessary to return to the army queues, as happened before with the crisis of sugar, potatoes and others.

New increases in household gas
The Ministry of Petroleum imposed an estimated 6.3% increase in the prices of natural gas for domestic consumption, as of November 1, according to Prime Minister Decision No. 2608 of 2021, issued on Tuesday, regarding setting the selling price of gas used in homes, according to the three segments of consumption.
The decision stipulated raising the price of the first consumption bracket (zero to 30 cubic meters) from 2.35 pounds to 2.50 pounds per cubic meter, an increase of 6.3%, and the price of the second consumption bracket (from 31 cubic meters to 60 cubic meters) from 3.10 pounds to 3.25 pounds. per cubic meter, an increase of 4.8%.
The increase included the price of the third consumption bracket (from 61 cubic meters or more) from 3.60 pounds to 3.75 pounds per cubic meter, an increase of 4.1%.

big increases

The Prime Minister of the coup, Mostafa Madbouly, had issued Decree No. 2902 of 2021, increasing the selling prices of natural gas supplied to industrial activities by 28%, as of November 1, 2021, which will raise the prices of all commodities, industrial products, clothing and building materials.
The decision stipulated raising the selling prices of gas to iron and steel factories, cement, fertilizers and petrochemicals, from 4.5 dollars to 5.75 dollars per million thermal units, or according to the price formula mentioned in the contracts, and to 4.75 dollars per million thermal units for all other industrial activities.
The markets are anticipating a new wave of the cost of necessary commodities, following the government’s announcement of raising the price of gas supplied to factories, which may negatively affect the competitive environment for Egyptian exports, due to the increase in the cost of production, at a time when the prices of building materials recorded successive increases in recent months, their rates exceeding 70%. in some articles.
Iron prices rose from 9,950 pounds per ton last year to 15,500 pounds, an increase of 62%, while the price of cement increased 52% from 720 pounds to 1,100 pounds, wood by 72%, aluminum by 46%, and glass by 43%. Other than sand, asphalt, bricks, lime and ceramics.

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