The Egyptian government has taken out 240,000 tons of sugar from its strategic reserves to distribute in the market this month, aiming to stabilize the fluctuating sugar prices, reported Zawya News.
The official mentioned that the country had enough sugar reserves for 5.5 months before this withdrawal. He estimated the monthly demand in Egypt to be around 65,000 tons for ration cards and 180,000 tons for sugar in the market.
Highlighting that Egypt recently received 86,000 tons of imported white sugar from Brazil on December 8th, the official noted that an additional 100,000 tons would be received to strengthen the sugar reserves.
