Ramadan Lantern Sales Drop 30% Amid Curfew

Sales of Ramadan lanterns in the Egyptian market declined during the current season by more than 30% compared to last season despite a 10% decline in prices.

Traders attributed the drop in sales to the implementation of curfew, which reduces the working hours of the shops, and preventing pop-up shops  in conjunction with preventive measures to confront the spread of the coronavirus (COVID-19).

The Egyptian government implemented several precautionary measures, extending the curfew for two more weeks, until April 23, with a complete closure of stores on Friday and Saturday.

Lantern retailers said that all products offered in the Egyptian market are manufactured locally, indicating that the demand for lanterns with a price range between 50-75 pounds are bought the most.

They pointed out that the prices of lanterns vary according to size. Prices range from 50-120 pounds, explaining that there are some imported kinds but, they are classified as toys.

The retailers explained that there is a decline in sales during the current period, due to the shortening of the opening period of commercial stores, due to the embargo decisions.

On his part, the deputy head of the stationery pision of the Cairo Chamber of Commerce Barakat Safa revealed that more than 4 million homemade lanterns were manufactured during the current season, as a result of the interruption of the import process due to the effects of the deadly virus.

Safa said that the volume of sales during the current period does not exceed one million lanterns, indicating that the total value of lanterns offered in the markets reaches 200 million pounds.

He pointed out that the current season came to disappoint manufacturers, despite relying on local components to maintain foreign exchange within the country, and in compliance with the decision to prevent the import of lanterns from abroad, explaining that approximately 60% of the goods offered in the markets will return to storage.

Safa emphasized that the prices of Egyptian lanterns witnessed a 10% drop in their prices during the  season compared to the previous one, coinciding with the rise in the value of the pound against the dollar since the beginning of 2019.

It is noteworthy that the former Minister of Trade and Industry Mounir Fakhry Abdel-Nour issued a resolution in 2015 prohibiting the import of mosaics, minerals and all lanterns with the aim of saving the foreign exchange currencies and encouraging the local industry.