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Friday, July 1, 2011

Insecurity and declining tourism lift prices deceive; cheat Ramadan

Monitored the Cairo Chamber of Commerce higher prices deceive; cheat Ramadan in the year 2011 as a result of the sharp decline in contracts to import, because of the high cost of transport costs and insecurity that led to raising the cost of insurance on goods, as well as to reduce the number of tourists who consume a large proportion of the quantities on the market.

The Egyptian newspaper said Thursday Rajab Al-Attar, Chairman of the Division of spice as saying that the value of contracts for the import of nuts in 2011 amounted to LE 118 million compared to 590 million pounds a year ago.

Attar said that the decline in imports due to the reduced number of tourists who consume a large proportion of the quantities on the market, as well as traders fear the exposure of their shipments of robbery under the state of security chaos, causing a loss could not tolerated, especially when prices are high-Attar.

Attar said "a large number of traders reluctant to import, given the decline in the purchasing power of consumers due to the deteriorating economic situation."

He predicted the shrinking number of canvas nuts and nuts, which is a welcome manifestation of the month of Ramadan every year, especially with the increased rates of theft.

For his part, explained Amr Asfour, a member of the Division of Food Federation of Chambers of Commerce, said an intensification of imports of basic foodstuffs, especially oils, butter, basmati rice in preparation for increased consumption during the month of Ramadan.

He called Ahmad Yahia, head of the food, they need to reduce consumption during the month of Ramadan, expected to decrease mandatory for excess consumption as a result of the current economic situation.

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