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After the Finance Minister’s decision to impose a 10% tax, Egyptians’ mood for “coffee” is in danger

Ceik by Ceik
May 26, 2023
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After the Finance Minister’s decision to impose a 10% tax, Egyptians’ mood for “coffee” is in danger
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Many Egyptians depend on coffee as a favorite morning drink, while others rely on it as a stimulant drink during different periods of the day, and coffee has become present in many Egyptian homes, and cafes spread throughout the Egyptian governorates are not devoid of it, as Egyptian reports confirmed that there is a great demand from consumers. Egyptians depend on coffee of all kinds, and that the Egyptian government imports approximately 70 thousand tons annually of coffee from countries (Brazil, India, Indonesia, Vietnam, and Colombia), which is the drink that comes second after tea, whose consumption in Egypt reached 85 thousand. tons annually.

And the Egyptian Minister of Finance, Dr. Mohamed Maait, revealed, in statements to him (Friday), that the price of coffee will increase during the coming period after imposing a 10% tax on it, which will lead to an increase in the price of coffee in the Egyptian market, as the price of a kilo of plain coffee is currently recorded at 298 pounds. And roasted coffee costs 360 pounds per kilo, double roasted coffee costs 457 pounds per kilo, and super roasted coffee costs 489 pounds per kilo.

The price of a cup of coffee in popular Egyptian cafes ranged between 20 and 25 pounds, while it increased in high-end cafes, and the prices became shocking to coffee lovers, amid expectations that the new heights would affect the demand for drinking it in cafes.

And the head of the coffee division, Hassan Fawzi, had confirmed that coffee sales in Egypt increased by about 20% during the current period as a result of the increase in consumer demands, coffee kiosks and take-away cars scattered in the streets, in addition to the entry of coffee-infused drinks such as (cappuccino, coffee with nuts, and hazelnuts) and an increase Investments in coffee manufacturing, noting in previous statements that climate changes in some coffee-producing countries are the reason for the recent price jumps.

Tags: 10afterappointmentcoffeedutyEgyptiansFinancefrominministerMoodtaxthe danger"
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