Published by
Al-Araby
Al-Araby
Egypt has set a fixed price for unsubsidised bread in an effort to counter rising food prices after Russia’s invasion of Ukraine closed off access to lower-priced Black Sea wheat. Prime Minister Moustafa Madbouly on Monday set the price of commercially sold bread at 11.50 Egyptian pounds ($0.66) per kg, his office said in a statement. Food prices had been rising in Egypt even before Russia’s invasion of Ukraine, but now bread – a politically symbolic staple on which many Egyptians are heavily dependent – is becoming more expensive as Black Sea wheat exports are disrupted. The price of unsubsid…