The prices of a large number of food commodities and others in Egypt have begun a journey of decline after a long journey of consecutive rises in recent months, in parallel with the announcement of the entry of the first installment of $ 10 billion of the investment deal of the "Ras Al-Hikma" project signed between Egypt and the UAE.
The decline in commodity prices came after a significant drop of the dollar against the pound on the black market, bringing the dollar down nearly 40 pounds, compared to about 70 pounds weeks ago. The list of commodities whose prices declined in the Egyptian market included a wide range of food products, foremost of which are red meat, fodder, legumes, and grains, but at slight rates, as the continuation of price reductions depends on the ability of banks to manage the dollar at official prices in the coming days.
Source (Al-Arabiya.net Website, Edited)
