Egypt imports 50,000 tons of sugar amid price increase

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.