More than $40.7 million worth of corn, $28 million worth of soybean, and $56 million worth of pharmaceutical chemicals have been released over this period
Egypt has cleared stuck goods worth $1.5 billion from local ports during the first 10 days of January, making the total value of goods cleared since the start of December at $8.5 billion, according to the cabinet.
The cleared goods included more than $613 million worth of items required for industrial purposes, including food products, primary industrial supplies, and spare parts, yesterday’s statement said.
More than $40.7 million worth of corn, $28 million worth of soybean, and $56 million worth of pharmaceutical chemicals have been released over this period.
In December, the Egyptian Cabinet announced plans to release goods from the ports, particularly food products, medicines, and production requirements, which have been on lockdown for months due to a shortage in foreign currency amid the global economic crisis.
The news came soon after the Central Bank of Egypt’s cancelation of the letter of credit system, which has been blamed for imported goods worth billions being stuck at port.
The cabinet did not disclose how much remains stuck in ports; however, the government has previously estimated it at around $9.5 billion in a statement from the 25th of December.
