Sugar Prices Remain Stable After Duties Imposed On Imported Sugar: Mehleb

In a meeting with chairmen of sugar manufacturing companies, the government has pledged that sugar prices will not increase, Prime Minister Ibrahim Mehleb announced.

This will be especially so, with the government’s imposition of duties on imported sugar, Mehleb added.

“Imposing import duties on sugar came to protect the local industry from any threat in light of the decline in world sugar prices, leading to increased imports of sugar for the domestic market and threatening small growers of sugar cane and beets and exposing them to losses,” a Monday cabinet statement said.

During the meeting, attended by the Ministers of Industry and Trade, Supply, and head of Federation of Egyptian Chambers Of Commerce, Mehleb said: “The price of sugar will not move upward for the consumer.”

“The State is working to promote and maintain the sugar industry in Egypt as a strategic commodity for citizens, with a commitment to provide the necessary funds and quantities for consumption at reduced prices,” cabinet spokesperson Hossam El-Kawish said. “The government will take measures to protect the local sugar industry and the preservation of the rights of all parties involved in the sugar manufacturing operations from farmer to manufacturers to consumers, with the need to achieve balance between all parties.”

Source: Daily News Egypt