Egyptian Government Studies Price Controls for Edible Oil Markets

Hisham El-Degwy, head of the Foodstuffs Division at the Federation of Egyptian Chambers of Commerce, said prices of most basic food commodities are relatively stable. He noted that slight increases in fuel prices have not directly affected sugar, rice and pulses due to the availability of safe strategic stocks.

In televised remarks, El-Degwy said vegetable oils are the main exception, with prices recording slight increases despite lower global raw material prices. He attributed this to the private sector holding a large share of stocks, which limits the state’s ability to fully control prices.

He said the government is currently studying the possibility of setting a guiding or mandatory price for edible oils as a measure to regulate markets if price volatility continues, despite the current reliance on free-market mechanisms.

He also noted that offers and discounts previously introduced by companies after the decline in the dollar had eased, while prices returned to previous levels as foreign currency increased again.

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