Egypt will grant a 10-day grace period for traders to control sugar prices, or the government may go for compulsory pricing, Egyptian Minister of Supply Ali El-Mosehly told Asharq Business.

Earlier this month, El-Mosehly said that Egypt’s grain buyer General Authority for Supply Commodities (GASC) launched a tender to purchase 50,000 tons of raw cane sugar and/or 50,000 tons of refined white sugar from any origin.

The Egyptian government agreed with producers and retailers to cut prices of several food commodities by 15% to 25% for six months starting Saturday, October 14th.


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