Cairo: An official from Egypt’s agriculture ministry informed Reuters on Sunday that the country’s sugar reserves are enough to last until the end of 2024.
He mentioned that Egypt aims to produce approximately 2.4-2.5 million tonnes of sugar this season, which concludes in June for both sugar cane and beet.
To achieve sufficiency this season, Egypt only needs to import 600 thousand tons of sugar, he added.
Last month, the cabinet approved a plan to import 1 million tons of sugar to alleviate the country’s sugar shortage.
In recent months, Egypt has been facing a sugar crisis, with market prices soaring above 50 Egyptian pounds ($1.05) per kg.
This increase in sugar prices has led to concerns among vendors and food and beverage companies, prompting them to increase their inventory levels.
To address this crisis, the government has implemented measures such as increasing the availability of subsidized sugar, launching initiatives to lower prices, imposing temporary bans on exports, and strengthening control measures.
($1 = 47.7200 Egyptian pounds)
