Egypt’s state-run sugar producers raise delivery prices by 33%

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Egyptian state-run sugar production companies have raised the ex-factory prices of sugar delivery by 33% to EGP 32,000 per ton, three company heads told Asharq Business.

They ascribed this increase in delivery prices to the high production costs and the liberalization of the Egyptian pound.

One of the sources said that the liberalization of EGP raised costs of production at sugar factories as well as natural gas tariffs.

Meanwhile, a government official noted that sugar is abundantly available now at the Egyptian companies after they raised its prices, a government official said, adding that the Ministry of Supply has enabled these to set prices as long as they are below EGP 32,000 per ton.

He also noted new sugar prices came into force on March 23rd, with the aim of selling sugar to consumers for EGP 35 per kilo.

On March 18th, the Ministry of Trade and Industry decided to halt exporting sugar for a three-month period, excluding sugar surplus in excess of the local market's needs.