Cairo: Egypt is gearing up to tackle its longstanding sugar crisis by ramping up production, aiming to produce around 140,000 tons of sugar during the ongoing season, reported Egypt Today.
The Ministry of Supply and Internal Trade kickstarted the reception of sugar beet crops from farmers at the Abu Qurqas sugar factory, a key production facility located in the Minya governorate of Upper Egypt.
The ministry has set its sights on receiving nearly 1 million tons of sugar beet throughout the current season, which stretches until August. Farmers have cultivated around 600,000 tons of sugar beet across various governorates for this season.
Essam El-Din El-Bedewy, Chairman of the ministry-affiliated Egyptian Sugar and Integrated Industries Company (ESIIC), expressed optimism that the sugar crisis will soon be alleviated as sugar production from sugar beet gains momentum across various factories. The Abu Qurqas factory aims to produce 70,000 tons of sugar annually for the state, along with allocations for other parties, beet fodder for export, and alcohol production.
In a bid to incentivize farmers, the ministry has announced additional incentives for each ton of sugar beet delivered to state-owned factories. The incentives vary depending on the delivery period, with farmers receiving financial benefits ranging from LE 1,900 to LE 1,350 per ton.
The shortage of white sugar has been a pressing concern for citizens across the country in recent months, leading to restrictions on purchases and higher prices. Limited supply from factories and producers, coupled with potential hoarding practices, has exacerbated the shortage. To address this, Prime Minister Mostafa Madbouli designated sugar, among other commodities, as strategic goods in December, imposing a ban on withholding these products.
Egypt’s economy has been bolstered by an influx of foreign currency, including a significant $35 billion agreement with the UAE for a development project in Ras El Hekma on the North Coast. In response to the sugar shortage, the Cabinet approved the import of one million tons of sugar earlier this year to mitigate the shortfall.
