Egypt halts sugar exports for 3 months – ministry

Egyptian Ministry of Commerce and Industry has decided on Wednesday to halt all sugar exports for three months, except for extra products not needed by the local market.

According to CNBC, the statement said that the extra products is what the Ministry of Supply and Internal Trade decides, with an agreement with the Ministry of Commerce and Industry.

The Egyptian government is trying to enhance the strategic reserves and to limit the exports to provide as much consumer goods as possible for the citizens.

The government also aims to make these goods available with a reasonable price with the beginning of the holy month of Ramadan.

According to the government, the holy month usually causes an increase in the Egyptian consumption from 50 billion Egyptian pounds to 100 billion pounds.