Market anxiety in Egypt following new fee on dry yogurt imports
The Egyptian Minister of Economy and Foreign Commerce has recently decided to impose a 45 percent protection fee on the dry yogurt (powder) imports. This decision resulted in heated responses in the local food markets.
According to Al-Sharq Al-Awsat, the Egyptian Food Industries Association sent a protesting memorandum to the Minister of Economy and Foreign Commerce, the Exports and Imports Control Authority and to the Minister of Supplies and Internal Commerce.
Local manufacturers claimed that the execution of the minister’s decision will boost the prices of products which are related to yogurt such as biscuits and household fat-concentrated dried yogurt. In addition, they claimed that the decision will raise the prices of the dairy products, whether made by traditional or modern methods. –(Albawaba-MEBG)