Egypt's NUCA, SHMFF sign New Cairo land allocation for integrated urban project    CIB named Egypt's Bank of the Year 2025 as factoring portfolio hits EGP 4bn    Egypt declares Red Sea's Great Coral Reef a new marine protected area    Oil prices edge higher on Thursday    Gold prices fall on Thursday    Egypt, Volkswagen discuss multi-stage plan to localise car manufacturing    Egypt denies coordination with Israel over Rafah crossing    Egypt to swap capital gains for stamp duty to boost stock market investment    Egypt tackles waste sector funding gaps, local governance reforms    Egypt, Switzerland explore expanded health cooperation, joint pharmaceutical ventures    Egypt recovers two ancient artefacts from Belgium    Private Egyptian firm Tornex target drones and logistics UAVs at EDEX 2025    Egypt opens COP24 Mediterranean, urges faster transition to sustainable blue economy    Egypt's Abdelatty urges deployment of international stabilisation force in Gaza during Berlin talks    Egypt, Saudi nuclear authorities sign MoU to boost cooperation on nuclear safety    Giza master plan targets major hotel expansion to match Grand Egyptian Museum launch    Australia returns 17 rare ancient Egyptian artefacts    China invites Egypt to join African duty-free export scheme    Egypt calls for stronger Africa-Europe partnership at Luanda summit    Egypt begins 2nd round of parliamentary elections with 34.6m eligible voters    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Egypt scraps parliamentary election results in 19 districts over violations    Egypt extends Ramses II Tokyo Exhibition as it draws 350k visitors to date    Egypt signs host agreement for Barcelona Convention COP24 in December    Al-Sisi urges probe into election events, says vote could be cancelled if necessary    Filmmakers, experts to discuss teen mental health at Cairo festival panel    Cairo International Film Festival to premiere 'Malaga Alley,' honour Khaled El Nabawy    Egypt golf team reclaims Arab standing with silver; Omar Hisham Talaat congratulates team    Egypt launches National Strategy for Rare Diseases at PHDC'25    Egypt launches Red Sea Open to boost tourism, international profile    Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Egypt bakeries to produce new kind of bread, at 10 piastres
Government will produce new kind of bread that will cost 10 piastres; it will not replace subsidised loaves sold at 5 piastres
Ahram Online Published in Ahram Online on 16 - 08 - 2012

The Ministry of Supply and Internal Trade will start producing new bread that will be sold for ten piastres per loaf.
Abou Zeid Mohamed Abou Zeid, Minister of Supply and Internal Trade, presented the idea to Prime Minister Hisham Qandil who then instructed him to prepare a study of the costs of production of the bread in governmental bakeries in preparation.
The bread will be produced in six lines of production at Talbeya's bakery complex of the Holding Company for Food Industries in cooperation with the Ministry of investment, to the tune of 200 tonnes a day.
Minister Abou Zeid made it clear that the new bread will not be an alternative to subsidised bread, 250 million loaves of which he said are sold daily at 5 piastres. He added that the price of subsidised bread will remain at the current rate.
Abou Zeid confirmed that the production and sale of the new subsidised bread will be based exclusively at governmental bakeries to prevent it being sold on the black market at higher prices.
Egypt's bread subsidy is projected at LE16 billion in the 2012/13 Egypt's state budget, a fifty per cent growth over the LE10.8 billion of 2011/2012.
The amount subsidised per loaf of bread will climb to 24.08 piastres (around a quarter of LE1) in 2012/13. This is up from 19.8 piastres per loaf in 2011 and even higher than the 23.3 piastres figure seen in 2007/2008.
Bread subsidies make up 60 per cent of total food subsidies, which are valued at LE26.6 billion.
Food subsidies, in turn, make up 18 per cent of the total subsidies sum of LE145.8 billion ($24.155bn).
Total consumption of wheat is also seen to grow to 9 million tonnes in 2012/13, up from 7.3 million.
Local wheat, which is used to satisfy a third of the total needs for subsidised bread, saw its cost grow significantly in the current financial year. The government plans to pay LE7.4 billion in 2012/13 to buy 3 million tonnes of wheat from local producers, while it will pay only LE8.5 billion to buy 6 million tonnes from abroad.
http://english.ahram.org.eg/News/50588.aspx

Clic here to read the story from its source.