Nuts and dried fruit, both popular on most Egyptian iftar tables during Ramadan, have become too expensive for millions in the country this year after a record rise in food prices.
Sellers and customers say that even the middle classes are cutting down this year.
“Nuts and dried fruit have always been a luxury food for Egyptians," Reda Mahmoud, the owner of a nut and coffee roastery in Cairo, told The National.
"They’re not something that most people eat on a regular basis. But even so, last Ramadan I had a lot more customers with modest means than this year.
“Even my more middle-class customers are buying half or quarter kilos of items they used to take kilos of last year.”
Since last Ramadan, prices of every nut in Mr. Mahmoud's store have doubled, he says. A similar increase was recorded in the price of dried fruit.
Because most varieties are not grown locally, Egypt imports most of its wares.
Its import bill for nuts and dried fruit amounted to $50 million in 2021, according to a report published by Egypt’s state statistics agency Capmas.
A shortage of essential US dollars from Egypt’s markets brought on by the global rise in food and energy prices since the war in Ukraine, and three devaluations of the local currency last year, have driven up import costs significantly.
Walnuts, cashews, hazelnuts, pistachios and almonds are almost exclusively imported to Egypt. Prunes and dried figs are also imported.
But raisins, peanuts, and qamaruldin, which are sheets of dried apricot puree — all popular additions to Ramadan desserts — are grown locally, which has kept their prices lower.
“Nut prices are tied to the dollar because our soil is not hospitable to growing most kinds here, so we have to import it,” Mr Mahmoud said.
"Import costs went up dramatically this year because of the rise in the dollar’s value. And suppliers were having a hard time even securing dollars outside the black market, which increased prices even further.”
Despite a marked drop in his Ramadan sales, about 20 per cent compared to last year, his profits have stayed the same.
“Even though people are buying less than they used to, nuts have increased in price so much that I am breaking even," Mr Mahmoud said.
"Also, you have to bear in mind that even now there is still a segment of Egyptian society which isn’t really that bothered about inflation and fortunately they’re my biggest customers."
His highest sales this year were of shredded coconut, raisins and peanuts.
Nuts and dried fruit are used abundantly in Ramadan desserts such as kunafa, qatayef, baklava and basbousa, which are customarily eaten daily during iftar, a meal that is typically communal during the holy month.
But this year, the higher cost of nuts has also changed the way that many poorer Egyptians are preparing their desserts.
Small changes
“I only bought peanuts, raisins and shredded coconut this year,” said Aziza Ahmed, 37, a lower-income resident of Cairo and mother of two.
"I am also using them in much smaller amounts than last year. I used to buy a kilo each of cashews, walnuts and pistachios for my kunafa and qatayef but this year they cost too much.”
Depending on quality, a kilogram of pistachios today costs between 500 and 800 Egyptian pounds ($16 and $25) compared to about 300 pounds last year.
The price of walnuts this year, which was also about 300 pounds last year, has risen to reach 500.
Almonds, hazelnuts and cashews have become too expensive for many Egyptians such as Aziza, whose household income is about $250 each month.
But raisins, shredded coconut and peanuts, which cost 70, 80 and 140 pounds, can still be afforded in smaller quantities this year.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
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Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
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7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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World Cut Steakhouse, Habtoor Palace Hotel, Dubai. On Thursday evening, head chef Diego Solis will be serving a high-end sounding four-course meal that features chestnut veloute with smoked duck breast, turkey roulade accompanied by winter vegetables and foie gras and pecan pie, cranberry compote and popcorn ice cream.
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