President of the Export Council for building materials Dr. Waleed Jamaluddin said , Egypt's exports of insulation fell by around 16 percent since the beginning of this year, up to about 42 million dollars against 50 million dollars in the same period last year.
In comments attributed to «almal », low export to global demand on insulation materials as well as rising prices of raw bitumen-in-production in the domestic market to about 3700 pounds a tonne compared to GBP-USD 3,191 520-ton on the world market.
He explained that the increase in the price of local raw materials have caused increasing final cost including contributed to reduce the competitiveness of Egyptian products abroad.
The General Petroleum Authority promised insulation Division to reconsider selling prices «bitumen» but that did not happen, and raise prices by 6 times since the beginning of the year, pointing out that total domestic consumption of raw bitumen decline to about 75,000 tons compared with 100,000 tons last year.
He noted that the real problem facing the export is in fierce competition for Egyptian yarn products overseas because of the low similar foreign products, plus the factories might not be able to compete in the domestic market also if such low-priced products. |