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Wednesday, 9 March 2022

Gov’t weighs price controls to temper rising bread prices

Rising bread prices featured heavily on the airwaves again last night: The government could consider introducing price controls on unsubsidized bread if sellers continue to raise their prices, cabinet spokesperson Nader Saad told Ala Mas’ouleety’s Ahmed Moussa (watch, runtime 5:25 | 5:12). Saad also appeared on Kelma Akhira (watch, runtime 9:37).

The mechanism could be similar to how the government regulates fuel prices across the country, according to Saad. The government currently fixes the prices of fuel sold at the pump and to factories, and reviews them at the beginning of every quarter according to movements in the global market.

The price of unsubsidized bread in the Greater Cairo area has risen by as much as 50% in the course of a week in response to global wheat prices. Saad accused sellers of hiking prices “unnecessarily” and urged them not to take advantage of the current global situation.

One wheat shipment is on its way from Russia, Saad said. Egypt has struggled to access regular grain shipments from the Black Sea region since the start of the conflict, with two cargoes stuck in Ukraine and another two tenders canceled due to high prices and a lack of bids.

In non-Ukraine news: President Abdel Fattah El Sisi’s meeting with Saudi Crown Prince Mohamed bin Salma in Riyadh yesterday got coverage on several of the talk shows. Al Hayah Al Youm’s Mohamed Sherdy gave us live coverage from Riyadh (watch, runtime 9:48) to cover the meeting. The leaders discussed boosting their cooperation on fighting terrorism, increasing economic and investment partnerships, along with bolstering trade, real estate development, and tourism between the two countries. Ala Mas’ouleety also had coverage (watch, runtime 13:59).

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