Egypt Imports 50,000 Tons of Sugar Amid Price IncreaseSource: www.export-egypt.com 12/20/2023, Location: Africa |
|
|
|
|
|
Egypt's General Authority for Supply Commodities (GASC) has imported 50,000 tons of raw sugar to be delivered in February 2024 amid an alarming price increase in the local market, according to a Cabinet statement.
The statement said that local production of sugar from sugar cane will start in January, while production from sugar beet will start in March. Last week, the Egyptian government extended a ban on sugar exports as prices in the local market fluctuate between EGP 27-50 per kilo and vendors stockpile their inventories. On Tuesday, Minister of Supply and Internal Trade Ali Moselhi stated that Egypt’s strategic sugar reserves could cover local consumption needs for almost eight months. Recently, Prime Minister Mostafa Madbouly called for regular reports on sugar prices in the markets until they stabilize at EGP 27 per kilogram. Egypt produces around 2.7 million tons of sugar every year through 300,000 feddans of sugar cane and 650,000 feddans of sugar beets, according to data from the Egyptian National Agriculture Library.The annual local demand stands at 3.5 million. |
|
|
Financials and Investment News in Egypt >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Egypt Oil & Gas 1 >> 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51 | 52 | 53 | 54 | 55 | 56 | 57 | 58 | 59 | 60 | 61 | 62 | 63 | 64 | 65 | 66 | 67 | 68 | 69 | 70 | 71 | 72 | 73 | 74 | 75 | 76 | 77 | 78 | 79 | 80 | 81 | 82 | 83 | 84 | 85 | 86 | 87 | 88 | 89 | 90 | |
