Economics
Food Security Alarm Bells Ring in North Africa
- Egypt raises price of subsidized cooking oil by almost 20%
- Other North African nations are feeling pain of higher costs
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North Africa, one of the world’s biggest grain importers, is increasingly feeling the impact of higher food costs on grocery bills.
Egypt is hiking subsidized vegetable oil prices by almost 20%, and reiterated that higher bread costs are coming. Tunisia doesn’t expect any relief in prices of the wheat it imports to make semolina and pasta until next year’s harvest. And Algeria blamed global markets for more expensive food at home, vowing to boost its grains harvest in the next three years to become less dependent on imports.