Egypt sugar prices rise by 26% in month

Egypt sugar prices rose by 26 percent in a month to reach 24,000 Egyptian pounds per ton, said Hassan Al-Fendi, head of the Sugar Division at the Federation of Egyptian Industries (FEI), on Monday.

The prices went up from 19,000 pounds per ton at the beginning of July. Egypt produces around 2.8 million tons of sugar per year, while domestic consumption exceeds 3.2 million tons.

Minister of Supply Ali Moselhi said that the General Authority for Supply Commodities (GASC) agreed to import 150,000 tons of raw sugar from Brazil, to be received next September and October.

The minister also said that Egypt’s strategic reserve of sugar is sufficient up until February 2024.