Egypt: Some pharmaceuticals prices up by 20% to 30%
A report issued by Cairo Chamber of Commerce said that commodities prices on local markets have been stable despite the government's recent customs tariffs cuts.
The report, however, added that some pharmaceuticals prices jumped by about 20 to 30%, and despite boosting the poultry industry by customs cuts, their retail prices did not drop and consequently did not emerge as a substitute to the red meat.
Additionally, the report noted that merchants and cattle breeders intentionally reduced their supplies in a bid to deprive local markets and raise the prices, especially before the fasting month of Ramadan and to create adverse impact on imported Sudanese meat. (menareport.com)
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