An expected rise in the prices of all imported goods

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“Al-Fahham”: beans and lentils are candidates to increase the aroma from 20% to 30%
El-Tahawy: 12% increase in the prices of household appliances

Many importers expected the prices of imported goods to rise in the coming months.

Osama Al-Faham, Chairman of the Board of Directors of the Nile Garden Company for Importing and Exporting Agricultural Crops, said that food prices will witness an increase during the current days by up to 30% due to the high prices of shipping costs, driven by the decrease in the number of empty containers.

He continued, that one of the most prominent foodstuffs is fava beans imported from Australia, explaining that fava beans imported from Australia depend largely on restaurants in Egypt as a result of the high price of fava beans, which is about 13 pounds per kilo compared to the Australian, which is about 8 pounds per kilo.

Al-Fahham added that lentils and all kinds of perfumes will witness an increase in the coming period, with rates ranging from 20% to 30%, explaining that India, Vietnam and China are among the most important countries from which Egypt imports perfumery materials.

Moaz Abdullah, Chairman of the Board of Directors of Al-Sakia Agricultural Development Company, expected that the prices of agricultural crops will witness an increase during the current year, compared to the same period last year, by about 40%, as a result of the increase in the prices of fertilizers imported from abroad, due to the increase in freight prices.

Yasser Samir, Chairman of the Board of Directors of the Advanced Systems Company for the supply and installation of alarms and firefighting devices, and one of the major importers, said that the prices of imported goods, especially from East Asian countries, will witness a significant increase in the coming days, as a result of the high cost of shipping, noting that there is a mysterious reason behind The significant rise in sea freight rates, explaining that the Corona pandemic crisis is not the only reason behind this increase.

And Samir estimated the value of the increase in container shipping prices to 600 to 700%, compared to the same period last year.

He expected that the prices of equipment and machinery will witness an increase of between 30% and 40% due to the increase in the prices of raw materials during the current year compared to last year.

Fathi El-Tahawy, deputy head of the Household Appliances Division at the Cairo Chamber of Commerce, said that the prices of imported household items are expected to witness an increase in the coming months by 10-12% as a result of the rise in the prices of sea freight to China, which jumped to $14,000 instead of $14,000. From 4 thousand dollars.

Sherif Abdel Moneim, Secretary of the Household Appliances Division in the Cairo Chamber of Commerce, said that the price of aluminum ore amounted to about 80,000 pounds per ton instead of 50 thousand pounds, and the price of stainless steel “304” was about 87,000 pounds per ton instead of 47,000 pounds, giving an example that The prices of pot handles increased after the price of aluminum ore increased by 40%, bringing the price of the handle to about 85 pounds instead of 40 to 55 pounds.

The price of polyethylene crude recorded about 45 thousand pounds per ton, instead of 26 thousand pounds, affected by the procedures for closing factories and ports that were taken since the beginning of the spread of the Corona virus pandemic, pointing out that polypropylene crude is imported from the countries of Thailand, Korea and China.

The article, an expected rise in the prices of all imported goods, was written in Al Borsa newspaper.