The Egyptian government has rejected a proposal to increase the price of subsidized sugar from EGP 12.5 to EGP 18 per kilogram (kg), according to Minister of Supply and Internal Trade Ali El-Moselhy.
El-Moselhy noted that there are currently no plans for the government to import sugar again. Instead, the private sector is set to import 250,000 tons of sugar within the next three months.
El-Moselhy had reportedly suggested raising the price of subsidized sugar to EGP 18 from EGP 12.5 per kg, highlighting that the government incurs a cost of over EGP 23 for every kg of subsidized sugar.
