Egypt: Importers Division reaction to 6-month sugar export ban

Published 2024년 10월 7일

Tridge summary

The Ministry of Investment and Foreign Trade in Egypt has extended a ban on sugar exports for an additional three months, making it a six-month ban in total. The ban, initially implemented in 2023, allows for the export of surplus sugar, as long as it does not exceed the local market's requirements. This decision aims to address a significant rise in sugar prices in Egypt over the past year, attributed to limited supply and hoarding by traders. The extension of the ban also reflects the impact of climate change on major sugar-exporting countries like India and Thailand. Egypt, producing about 2.7 million tons of sugar annually, while consuming around 3.5 million tons, relies on both cane and beet for sugar production, with 15 state-owned sugar factories and three privately-owned beet factories.

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Original content

Matta Beshai, head of the Supply Committee of the General Importers Division, praised the decision of the Ministry of Investment and Foreign Trade to ban the export of all types of sugar for a period of 6 months, stressing that it is a successful decision, explaining that Resolution No. 68 of 2024 confirmed that Ministerial Resolution No. 88 regarding the ban on the export of all types of sugar will continue to be in effect except for surplus quantities for a period of 6 months in Issue No. 220 on October 7, 2024. The "Chairman of the Committee" pointed out that Article 1 of the resolution confirmed that Ministerial Resolution No. 88 of 2023 referred to will continue to be in effect for a period of six months. Ministerial Resolution No. 88 of 2023 stipulates that the export of all types of sugar will be banned except for quantities surplus to the needs of the local market, which are estimated by the Ministry of Supply and Internal Trade and after the approval of the Minister of ...

Source: Akhbarelyom