Egypt’s Ministry of Agriculture has reassured Reuters that the country’s sugar reserves are adequate until the end of 2024, addressing concerns over an ongoing sugar shortage. The government aims to produce around 2.4 to 2.5 million tons of sugar this season, with additional imports of one million tons planned to alleviate the crisis.
Sugar prices in Egypt have been rising steadily in recent months, surpassing 50 Egyptian pounds ($1.05) per kilogram, causing stockpiling among vendors, food and beverage companies. To combat this crisis, the Cabinet implemented various measures, including increasing subsidized sugar quantities in markets, reducing prices through initiatives and temporarily banning exports while implementing stricter control measures.
The announcement from the Ministry of Agriculture official provides relief to the public regarding the sugar shortage as they plan to produce more sugar and import additional supplies to stabilize prices and ensure an adequate supply for their citizens. The government’s commitment to resolving issues that impact daily life is evident through their efforts to address this crisis.