The Egyptian Ministry of Trade and Industry has announced an extension of the three-month ban on the export of all types of sugar, as outlined in a decree published in the Official Gazette on Thursday.
The decree includes an exemption for surpluses from the export prohibition. This extension is implemented as a precautionary measure to ensure an adequate supply of sugar for domestic consumption.
The recent alarming surge in sugar prices has led to widespread concerns, prompting vendors, as well as food and beverage companies, to increase their inventories. Minister of Supply and Internal Trade Ali Moselhi, on Tuesday, assured that Egypt’s strategic sugar reserves are sufficient to meet local consumption needs for nearly eight months.
