Egypt extends onion export ban till 30 March

Ahram Online , Monday 11 Dec 2023

Egypt's Prime Minister Mostafa Madbouly extended a ban on onion exports until 30 March 2024, during a Monday meeting with relevant ministers on efforts to control commodity prices.

onions

 

The meeting also aimed to monitor the sufficient availability and affordability of various commodities in markets and to supply more goods to markets and commercial complexes across the country.

In early October, Egypt’s three-month ban on onion exports came into effect.

Recently, onion prices in Egypt have surged to EGP 35 per kilogram in some local markets across Egypt; a significant increase from EGP 27 the previous month and EGP 12 a year ago.

Onions have traditionally been one of the most affordable vegetables in the country and are a staple in Egyptian cuisine.

According to the official statistics authority CAPMAS, Egypt’s onion exports surged by 95.9 percent to reach $129.3 million during the first six months of 2023, up from $66 million in the same period a year earlier.

In August, food and beverage prices in Egypt recorded a monthly inflation rate of 2.2 percent. However, the price of vegetables rose even faster, increasing 24.4 percent in August, up from 5.5 percent the previous month.

Year-on-year, food and beverage prices soared 71.9 percent. Housing and restaurant services have also inflated by 49.5 percent annually.

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