Egypt Postpones Onion Export Ban to 1 OctoberSource: www.export-egypt.com 9/24/2023, Location: Africa |
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Egypt's Ministry of Trade and Industry announced on Saturday that the Cabinet's decision to ban onion exports, initially scheduled to start late last week, will now take effect on 1 October, to honour previously arranged export agreements.
This announcement from the ministry comes in response to a statement issued by the Egyptian Customs Authority, as reported by various news outlets over the weekend, indicating a temporary suspension of the export ban decision. Last Wednesday, the Egyptian Cabinet announced a three-month ban on onion exports, in order to calm the rising prices in the local markets. Recently, onion prices in Egypt have surged to EGP 35 per kilogram in some local markets across Egypt, a significant increase from EGP27 the previous month and EGP12 a year ago. The can be attributed to intermediaries and some traders hoarding onions, according to recent comments by an official from the Ministry of Agriculture. Egypt harvests more than three million tons of onions annually and exports a third of of that number. Onions have traditionally been one of the most affordable vegetables in the country and are a staple in Egyptian cuisine. The average Egyptian consumes around 15 kilograms of onions per year. |
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