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Matta Bishay, Head of the Supply and Internal Trade Committee at the Cairo Chamber of Commerce, has revealed that approximately 99% of edible oils circulating in the Egyptian market are imported. Speaking on Ten TV, Bishay emphasized that transitioning from a reliance on imports to a robust domestic manufacturing sector is not an instantaneous process; it requires a strategic timeframe, specialized training, and comprehensive government facilities to support traders venturing into the industrial field.
Bishay explained that the shift of importers toward manufacturing is heavily contingent upon the incentives provided by the state. He noted that localizing the edible oil industry necessitates a period of preparation to build technical capabilities and upgrade manufacturing infrastructure. Furthermore, the official highlighted that regional instability has negatively impacted logistics and shipping, thereby restricting the movement of importers and their ability to collaborate with international markets and transfer modern technologies.
Addressing the issue of market competitiveness, Bishay raised questions regarding the high cost of certain locally manufactured goods compared to imported alternatives, which are often sold at lower prices despite being produced abroad. He stressed the importance of analyzing the factors driving up local production costs to foster a more competitive environment for Egyptian industry. Such a study is vital to encourage importers to transition into manufacturing, reducing the long-term dependence on foreign goods and enhancing national food security.
Source: Sada El Balad