Egypt PM, Japan's JBIC head explore deeper cooperation    Egyptian pound wavers vs. USD in early trade    SCZONE showcases investment opportunities to eight Japanese companies    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    Egypt's PM meets Tokyo governor, witnesses signing of education agreements    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Egypt's Sisi, France's Macron discuss Gaza ceasefire efforts in phone call    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egypt to tighten waste rules, cut rice straw fees to curb pollution    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    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.



Weather and consumer habits exacerbate Ramadan price-rise worries
Published in Almasry Alyoum on 11 - 08 - 2010

In August, Egypt's Consumer Protection Agency reported a 43 percent increase in food prices, a phenomenon closely associated with the lead up to the month of Ramadan.
The report mentions increases in the prices of 17 products available at consumer complexes, which house mostly subsidized goods.
The report also notes that lesser price hikes have been recorded in non-subsidized supermarkets and hypermarkets.
According to the CPA, price hikes have affected poorer communities, who obtain food from subsidized outlets rather than supermarkets, which are frequented by richer communities.
The hikes are nevertheless related in the first place to consumers' overconsumption, which is tightly connected to Ramadan, experts say.
Consumers have noticed that not every food commodity has increased, but only products likely to be bought by the well-off.
“I don't see that prices have increased as is the case every Ramadan,” said Amal Farah, 42. She explained that products like sugar, rice and butter have not increased, while meat and poultry's prices have risen.
Some consumers have noticed particular prices hikes for fruit. “The price of fruit has multiplied four-fold,” said 32-year-old Noha Azaab, a housewife.
Experts say that this is because of the hot weather Egypt has been facing this year. “The production of fruit and vegetables has declined, leading to this huge increase in prices,” Salah Taha, secretary general of the Giza Chamber of Commerce, told Al-Masry Al-Youm.
Ramadan nuts and dried fruits, commonly known as yamish, haven't avoided the price hikes, either. “I see that the prices of nuts have increased by 50 percent this year,” said Farah. She added that dates, a Ramadan specialty, are currently going for LE21 a kilo, as opposed to LE11 a kilo last year.
“I can't cook a meal for my family for less than LE100, but how many hundreds of pounds does my income have?” said Hoda Mostafa, a 44-year-old housewife.
Apparently, the government is unable to relieve Mostafa's difficulties feeding her family during the holy month. “Consumer complexes sell [some] subsidized products, but the government is not able to subsidize all the products,” said Taha.
Responding to the current increases in prices, members of three opposition groups--the People's Free Front, and the Kefaya and 6 April opposition movements--on Monday staged protests against rising retail food prices in front of the cabinet headquarters in Cairo.
Protesters brandished spoons and empty dishes to convey mounting fears of inflation-induced hunger.
Some consumers however believe prices have not increased dramatically, but that purchasing attitudes have changed, since people tend to buy items in Ramadan that they don't usually buy, and hence spend more money.
Experts say prices are determined according to consumer demand, and this explains the reason behind the sudden annual increase in prices of food commodities during Ramadan.
Accordingly, experts advise Egyptians to end their habit of buying a huge amount of food before Ramadan and hoarding it for fear of an increase in prices.
“If the sellers hadn't witnessed this increase in demand, they wouldn't have increased prices, so stop buying beforehand,” said Taha.
A recently launched website is now accessible to Egyptians giving up-to-date information about local and global prices.
The website, run by the governmental Information and Decision Support Center, covers prices in all Egyptian governorates, updated on a daily basis, and lists retail prices on a daily, weekly, monthly and annual basis for commodities such as vegetables, fruit, meat, poultry, rice, dairy products, and sugar.


Clic here to read the story from its source.