Egypt: Does the sugar export ban lead to lower prices in the market?

Written by - Dina Karam: Hassan El-Fandy, head of the Sugar Division at the Federation of Industries, said that the decision to stop sugar exports for 6 months contributes to achieving price stability in the local sugar market, and the abundance of stock away from price declines. He stressed that the abundance of sugar in the market at a suitable, stable price is more important than the decline in its prices. Hassan El-Khatib, Minister of Investment and Foreign Trade, decided to continue the ban on sugar exports for the next 6 months, except for quantities surplus to the local market. El-Fandy explained that the Egyptian market will witness remarkable stability compared to what it was in 2022 and 2023, which helps to provide sugar with stable prices. He added that Egypt has contracted to import one million tons of sugar, and batches of it have been received, and the rest of the quantity is being completed to cover market needs. El-Fandy indicated that the price of sugar ranges ...