We have been informed by the Egyptian-British Chamber of COmmerce that Egypt’s Minister of Supply has issued a decree obliging all food companies to print a price label on all their products in clear.
Here are the highlights, in brief:
– The decision, which was published in the state’s official gazette on Tuesday 24th of October 2017, includes companies that produce food products locally as well as those that package imported products. – The decree also prohibits dealing with un-priced products anywhere down the line; whether in retail, packing or distribution. – The supply ministry has given a deadline of 31 December for dealers to sell any unlabelled products, which should also have set prices prior to the end of the deadline. – The decree also imposes penalties on those who violate the law with one to five years in prison and a fine between EGP 300 and EGP 1,000, in accordance with Article 9 of the compulsory pricing and profit regulation law. However, updates or amendments of the decree may come out soon, we will keep you up to date.
