Supply Ministry Announces Fine, Imprisonment for Traders Stockpiling Strategic Goods

Abdel Moneim Khalil, Head of the Internal Trade Sector at the Ministry of Supply said that there has been no shortage of food commodities at all for 6 years, adding: "We import 97% of oils from abroad and there are global increases in some commodities from before the war in Ukraine."

Khalil added, while hosted on one of the TV shows, that traders applied an unjustified increase in prices a few days ago, even though Egypt has self-sufficiency in sugar, rice and a strategic stock of wheat for several months. He continued, "We have self-sufficiency in rice, and there should have been no increase in it at all."

The head of the internal trade sector continued, that the Ministry of Supply succeeded in controlling prices and controlling markets during the pandemic, stressing: “We will provide large quantities in consumer complexes in the coming days to reduce prices, and we will tighten control campaigns on everyone."

"Up to 300 tons of Rice, flour and sugar were seized from dealers, after they tries to store these strategic commodities."

"I send a message to any merchant who store goods, that the penalty will be two years imprisonment with fines of 500 thousand pounds and one million pounds, and any goods that will be seized with the merchant will be confiscated immediately and placed in consumer complexes."

He pointed out that the coming period will witness a decrease in prices after the efforts made to confront the greed of traders, and there will be discounted goods in the ministry's outlets.

"The Ahlan Ramadan exhibition will have many outlets in many villages, and prices will decline before Ramadan.”

He stressed that consumption in the month of Ramadan increases by 50%, and we have offered goods with discounts of up to 25% in the governorates at reduced prices, through 6000 commodity outlets in all cities.