The government wants to establish official prices for fruit and vegetables

Fight inflation by reducing the profit margins of retailers.

The Al-Ahram newspaper reported that the Minister of Supply, Mohamed Abu Shadi, set an ultimatum to Egyptian retailers. The minister gave them a deadline of one week to reduce the prices of fruits and vegetables. Otherwise, the government will set an official price by giving them a profit margin of 25%.

Currently the retail margins exceed 250% for fruits and vegetables. Some have sold at a price 300 times higher than the price paid on 2 prinicipal wholesale markets located in Cairo and Giza . Fruits and vegetables are not among subsidized foods that the government provides to Egyptians by a system of food cards (69 millions beneficiaries from a population of 90 million).

The minister did not specify whether the imported fruits and vegetables would be subject to these official prices.

source : ahram org eg, france 24 com, afp