A sudden rise in the prices of fruits and vegetables in Egypt

A sudden rise in the prices of fruits and vegetables in Egypt
A sudden rise in the prices of fruits and vegetables in Egypt
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The Egyptian markets witnessed a sudden rise in the prices of fruits and vegetables, by large rates that reached 50% in some items, at the beginning of the week’s trading, today, Saturday, against the background of offering a group of summer crops in what is known as the “harbingers of the season”, whose prices are likely to decline. Gradually at peak season over the next three months.

The recent increase in the selling price of diesel in the local market by 13.8%, from 7.25 pounds (about $0.25) to 8.25 pounds per liter, contributed to an increase in the prices of all basic food products and commodities in varying proportions, especially fruits and vegetables, according to what was monitored by The New Arab. In one of the popular markets east of the capital, Cairo.

Compared to last week’s prices, the local price of guava jumped from 20 to 30 pounds per kilogram, an increase of 50%, grapes from 35 to 45 pounds per kilogram, an increase of 28%, sugary peaches from 30 to 40 pounds per kilogram, an increase of 33%, and imported apples from 50 to 60 pounds per kilogram, an increase. 20%, cantaloupe from 15 to 20 pounds per kilogram, an increase of 33%, watermelon from 7 to 10 pounds per kilogram, an increase of 42%, and bananas from 12 to 15 pounds, an increase of 25%.

The price of tomatoes and carrots increased from 8 to 10 pounds per kilogram, an increase of 25%, cucumbers from 12 to 15 pounds per kilogram, an increase of 25%, bell peppers, red onions and zucchini from 15 to 20 pounds per kilogram, an increase of 33%, and beans and peas from 20 to 25 pounds per kilogram, an increase. 25%, lemon from 25 to 30 pounds per kilogram, an increase of 20%, bell peppers and garlic from 40 to 45 pounds per kilogram, an increase of 12%, and okra from 50 to 60 pounds per kilogram, an increase of 20%.

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According to official figures, the inflation rate in Egypt increased by 1.8% last April, compared to the previous March. Inflation recorded 31.5% in April, compared to 14.9% during the same period last year, as a result of the increase in food and beverage prices by 53.8%, cereals and bread by 75.1%, meat and poultry by 83.3%, and fish and seafood by 74.5%.

Egypt, which received a $3 billion financial support package from the International Monetary Fund last December, has cut the value of its currency by half since March 2022, as the official exchange rate for the dollar rose from 15.70 to 30.95 pounds, after the repercussions of the Russian invasion of Ukraine were revealed. about weaknesses in the Egyptian economy.

The dollar broke the barrier of 44 pounds in futures contracts for a period of 12 months, due to the state of uncertainty about the future exchange rate of the Egyptian currency, and the interest rate applied to the pound and the dollar in the country, with the increase in external debt, the widening current account deficit, and the scarcity of the dollar in the market.

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