Egypt allocates EGP16b for next season sugarcane procurement

Egypt has allocated 16 billion Egyptian pounds to purchase sugarcane from farmers, targeting the procurement of 6 million tons of sugarcane in the forthcoming season, a Cabinet statement showed.

This is expected to yield 650,000 tons of refined sugar, with industrial operations estimated to cost around 7 billion Egyptian pounds.

Farmers are set to receive incentives, including 50 Egyptian pounds per ton for those whose production exceeds 30 tons per feddan and 100 Egyptian pounds per ton for those whose production surpasses 40 tons per feddan.

Procurement prices have been set at 2,400 Egyptian pounds per ton for sugar beet and 2,500 Egyptian pounds per ton for sugarcane.

Attribution: Amwal Al Ghad English