Egypt prepares national programme to curb food prices, expand retail markets

Egypt is preparing a national programme to stabilise food and commodity prices by expanding retail markets, improving supply chains, and increasing the availability of essential goods, Prime Minister Moustafa Madbouly said on Tuesday.

The programme, directed by President Abdel Fattah El-Sisi, will be implemented by the Future of Egypt in coordination with the supply and agriculture ministries, according to a Cabinet statement.

Supply Minister Sherif Farouk said the plan includes establishing a joint company between the Future of Egypt and the two ministries to oversee the implementation and the creation of at least one permanent market in every governorate to improve access to affordable goods.

The supply and agriculture ministries will each contribute 500 million Egyptian pounds to support the initiative.

The programme will also expand seasonal markets, integrate government-operated mobile retail outlets, improve supply chains to reduce distribution costs, and promote domestic production, and contract farming to help ensure stable supplies of essential commodities.

Bahaa El-Ghanam, Executive Director of the Future of Egypt, said implementation would begin in phases under a comprehensive 12-month programme that is expected to be finalised within days.

Madbouly said ensuring the availability of essential goods and maintaining price stability remained government priorities amid ongoing regional geopolitical tensions. He directed officials to finalise the implementation plan, maintain adequate strategic reserves, expand retail outlets nationwide, and strengthen market oversight.

Egypt has been working to contain inflation and ease pressure on household budgets by improving food supply chains, expanding the availability of subsidised and low-cost goods, and supporting domestic agricultural production.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser