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Egypt to import 250,000 tons of raw sugar

The Ministry of Supply and Internal Trade said it signed an agreement on Thursday to import 250,000 tons of raw sugar.
07.04.24 | Source: Ahram Online

According to the ministry's statement, Egypt would receive the sugar shipments beginning next month.

The agreement aligns with the government's directives to boost the nation's strategic sugar reserves to address the recent sugar crisis. 

Last month, the cabinet approved importing one million tons of sugar to alleviate the country's sugar shortage.

Egypt has grappled with a severe sugar crisis in recent months. Prices of sugar on the market soared to above EGP 50 per kg.

The recent surge in sugar prices has raised concerns among vendors and food and beverage companies, prompting them to stockpile their inventory.

The government has taken steps to resolve this crisis, including increasing the amounts of subsidised sugar on the market, implementing initiatives to reduce prices, imposing temporary bans on exports, and intensifying control measures.