Egypt’s GASC purchases 50,000 tonnes of Brazilian raw sugar

Egyptian General Authority For Supply Commodities (GASC) purchased 50,000 tonnes of Brazilian raw sugar with total cost estimated at around US$24.5 million, Vice-chairman Ahmed Youssef stated Sunday.

The agreed upon raw sugar would be shipped from 15-30 October at the price of U$491.50 per ton.

An official at Egyptian supply ministry stated last week that the Egyptian government is set to buy 450,000-550,000 tonnes of sugar from local and foreign markets to cover state’s needs until the end of February 2017.