Jamal Al-Saudi, head of the paper division of the Chamber of Printing & Packaging Industries of the Federation of Egyptian Industries (FEI), announced that the prices of packaging paper was witnessing a decline against the background of stagnation in the global market and in Egypt’s bulk wrapping paper segment.
Al-Saudi stated that the packaging paper market has been stagnating since the middle of last Ramadan. He attributed this to the cut in factory production of the food industry as well as other industries that depend on packaging paper as a result of the economic instability and diminishing purchases by Egyptian consumers.
He revealed that the paper produced by some of Egypt’s leading paper manufacturers like Quena Paper Industry Company and Misr Edfu Paper Company is parchment, used only in books.
Mostafa Ebeid, a former head of the chamber’s paper division says that the prices of Quena’s paper rose to 27,000 Egyptian pounds, due to the rise in the prices of imported raw materials and production requirements that are included in the local paper industry.