The ministry will also extend an additional two kilograms of sugar on ration cards used by four individuals or more
Egypt to extend its decision to expend an additional kilogram of sugar on ration cards used by up to three individuals until next January, as per the Egyptian Ministry of Supply and Internal Trade statement yesterday.
The ministry will also extend an additional two kilograms of sugar on ration cards used by four individuals or more.
Lately, Egypt has been facing an extreme surge in local sugar prices, the General Authority for Supply Commodities (GASC) secured the import of 50,000 tons of raw sugar slated for delivery in February 2024, according to earlier media statements.
Sugar prices in the local market surged by over 50% in the past few weeks, climbing to EGP 27-50 per kilo with some merchants hoarding the commodity in anticipation of potential government price hikes.
According to previous statement, local sugar production from sugar cane is scheduled to begin in January, while production from sugar beets is set to start in March.
In a recent Facebook post, Minister of Supply and Internal Trade Ali Al-Moselhi shared that the ministry had injected 245,000 tons of sugar into the markets, highlighting the substantial reserves in various governorates.
Prime Minister Mostafa Madbouly also directed fir periodic reports on sugar prices until the prices stabilize, especially after the recent movements and interventions of the Ministry of Supply to pump thousands of tons into the various governorates.
