Egypt's cabinet denies shortage in basic food commodities nationwide
Newspaper Title: https://www.egypttoday.com/
Newspaper Number:
Saturday - 23 October 2021
CAIRO - 23 October 2021: The Cabinet’s information center denied reports circulated about a shortage in the available basic food commodities in markets nationwide.
The center said in a Saturday statement that it contacted the Supply and Internal Trade Ministry which dismissed the news as baseless.
The ministry asserted that all basic food commodities are normally available in markets and large quantities of them are pumped nationwide.
The strategic stockpile of basic food commodities is sufficient for several months, it said.
The information center called on all media outlets and social media users to verify the authenticity of news before publishing or sharing it.
A number of countries are commercially dependent for their exports on one or two commodities, and sometimes these commodities may represent 60 percent or more of their total exports.
This situation represents a danger to these countries, as they can be exposed economically to fluctuations in the prices of these commodities due to the global demand for them. Over the years, countries may not succeed in getting out of this predicament except with difficulty.
Recently, UNCTAD reports indicated that Egypt is one of the countries that is not exposed to any economic risks related to basic commodities, thanks to the diversification of Egyptian exports and the government's interest in expanding manufacturing activities (for example: petrochemicals, fertilizers, and manufacturing industries).
