Egyptian supermarket chain, Hyper One will pump 1,000 tonnes of sugar at a price of five Egyptian pounds ($0.56) per kilo this week, said its chairman Mohamed El-Hawary on Tuesday.
This comes after Hyper One had signed a contract with Egypt’s state-run Food Industries Holding Company (FIHC), an affiliate to Ministry of Supply, to obtain the sugar supplies, El-Hawary added.
El-Hawary told Amwal al Ghad that Hyper One had recently signed to buy 2,000 tonnes of sugar from FIHC, in response to the recent increasing demand for buying sugar.
Hyper will receive 1,000 tons of sugar within this week at value of five Egyptian pounds per kilo.
According to a recent initiative to alleviate citizens’ suffering from high prices, El-Hawary has referred that Hyper sells the one kilo of sugar for 4.95 pounds.
The Egyptian official has expected that the country’s sugar shortage would end within days through an increase of pumping sugar in local markets and consumer complexes.
El-Hawary has expected a decrease in sugar prices which have deeply increased soon to record five pounds for sugar per kilo.