New Decrees Regarding Commodities Deemed Strategic Products And Controls On Trading

In light of the Egyptian Government's endeavors to control markets and commodity prices, on December 30, 2023, the Egyptian Prime Minister issued Decree No. 5000 of 2023 (the "Decree") labelling some commodities as strategic products in accordance with the application of the Consumer Protection Law No. 181 of 2018 (the "Law").

By virtue of the Decree, the indicated commodities are prohibited to be withheld from circulation, whether by concealment thereof, not putting them up for sale, refusing to sell them, or by any other means.

In addition, the Decree stipulates that the holders of said commodities (for purposes other than personal consumption) including producers, suppliers, distributors, and sellers are obligated to immediately inform the competent Directorates of Supply and Internal Trade about the types and quantities of such commodities stored in their possession. The said commodities include Blended Oil, Broad Beans, Rice, Milk, Sugar, Macaroni,