Supply ministry outlets provides sugar at 6 Egyptian pounds

The outlets of Egyptian supply ministry are set to provide citizens with sugar at the price of 6 Egyptian pounds per kilo and 5 Egyptian pounds for ration card holders.

The minister Mohamed Ali al-Sheikh issued Sunday a decision obligating all ministry’s outlets to provide the sugar at those prices.

The decision comes as an acute sugar shortage has been reported over the past few weeks, with the price of one kilogram of sugar reaching between EGP9-10 instead of EGP5 before the crisis.

The ministry said in a statement that the decision aims to control prices as well as the market and to curb of smuggling operations and monopoly.

The supply of sugar declined in Egyptian markets on the heels of a ministerial decision limiting the distribution of sugar to the Holding Company for Food Industries only, leaving out hundreds of traders and packaging factories.

Other factors including the dollar shortage and the global increase in sugar prices have contributed to the problem, prompting private sector companies to stop importing.

Egypt consumes about 3.2 million tonnes of sugar annually but produces just over 2 million tonnes leaving a gap of slightly over a million tonnes a year for imports.

Source: Aswat Masriya