Sugar, confectionery sector investments hit $2.3bn- Egypt’s Food Chamber

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Investments of Egyptian sugar and confectionery industry are estimated at 18.4 billion Egyptian pounds (US$2.3 billion), Head of Sugar, Confectionery and Chocolate division at Chamber of Food Industries (CFI) stated.

Speaking to Amwal Al Ghad Thursday, Raafat Rozika said that 800 firms are officially working in confectionary sector of which 607 are registered in the division. The division is providing jobs for around 86,800 workers.

He noted that there are no indications about new investments in the sector as there is no suitable climate for investment in Egypt currently.

On other side, the head added that Egypt around 3-3.3 million tonnes of sugar every year while the local factories produce around 2.5 million tonnes. Hence, the annual deficit is estimated at around 800,000 tonnes.