Egypt’s Ministry of Agriculture has reassured Reuters that the country has sufficient sugar reserves to last until the end of 2024. This season, Egypt aims to produce around 2.4 to 2.5 million tons of sugar to address the ongoing shortage. To alleviate the crisis, the Cabinet approved a plan to import one million tons of sugar last month.
Over the past few months, rising sugar prices have exceeded 50 Egyptian pounds ($1.05) per kilogram, causing concern among vendors and food and beverage companies who have been forced to stockpile their supplies. In response, the government has implemented several measures to address the crisis, including increasing subsidized sugar quantities in markets, reducing prices through initiatives, imposing a temporary ban on exports, and implementing tighter control measures.
The Ministry of Agriculture official’s announcement provides some relief to the public regarding the sugar shortage. By producing more sugar and importing additional supplies, Egypt aims to stabilize sugar prices and ensure an adequate supply for its citizens. The government’s efforts to address the crisis demonstrate a commitment to resolving issues that impact the daily lives of its people.
