Egyptian government rejects proposal to raise subsidized sugar price

Reuters

Currently, the government has no plans to import sugar again

Staff Writer, Arab Finance

June 10, 2024

PHOTO

The Egyptian government has rejected a proposal to raise the price of subsidized sugar from EGP 12.5 to EGP 18 per kilogram (kg), Minister of Supply and Internal Trade Ali El-Moselhy told Asharq Business.

Currently, the government has no plans to import sugar again, Moselhy noted, adding that the private sector will import 250,000 tons of sugar within the coming three months.

Moselhy reportedly proposed raising the subsidized sugar price to EGP 18 from EGP 12.6 per kg, saying that the government bears over EGP 23 for every kg of subsidized sugar.

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