Sugar prices have been rising in Egypt over the past few months, reaching a record of 50 Egyptian pounds ($1.05) per kilogram. This has caused concern among vendors, food and beverage companies who have been forced to stockpile their supplies. The government has taken measures to address the crisis, including increasing subsidized sugar quantities in markets, reducing prices through initiatives, temporarily banning exports and implementing stricter control measures.
The Egyptian Ministry of Agriculture has reassured Reuters that sugar reserves are adequate until the end of 2024. The country aims to produce around 2.4 to 2.5 million tons of sugar this season to alleviate the ongoing sugar shortage. In addition, one million tons of sugar were imported last month to further stabilize prices and ensure an adequate supply for citizens.
The government’s efforts to address the crisis demonstrate a commitment to resolving issues that impact the daily lives of its people. By producing more sugar and importing additional supplies, Egypt aims to stabilize prices and ensure an adequate supply for its citizens.