Cairo: Minister of Supply and Internal Trade, Ali al-Moselhy, announced on Tuesday that three sugar refineries dedicated to processing sugar cane are set to commence operations on January 5, to enhance supply and address the ongoing shortage crisis, reported Egypt Today.
Ibrahim El Segeny, Chairman of the Consumer Protection Authority (CPA), disclosed last week that the recent surge in sugar prices and the resulting shortage in the market were part of a deliberate scheme. Emphasizing that Egypt domestically produces 85 percent of its sugar, with the five largest refineries being state-owned, Segeny highlighted the concealment of this essential commodity and the subsequent confiscation of significant quantities.
Furthermore, Segeny noted that the market price for sugar used to be LE27 per kilogram. However, due to these deceptive practices, the price has surged to LE40-50. In response to this, he urged consumers to promptly report any instances of unusual sugar prices, reinforcing the importance of vigilance in addressing the situation.
