Egypt: Sugar prices drop by about 100 pounds per ton in the local market today

Sugar prices declined at wholesalers in the local market, during trading today, Thursday 19-5-2022, while the prices of glucose and food starch continue to remain at the same low levels recorded last week. The strategic commodity markets are witnessing a state of tension and confusion; Because of the Russian-Ukrainian crisis, the increase in inflation, in addition to the impact of the Federal Reserve’s decisions to raise the interest rate, and the fear of lack of supplies. The Ministry of Supply and Internal Trade confirmed, earlier, the existence of a good strategic reserve of all strategic goods, including white sugar, explaining that it was reduced The gap between local production and consumption is large, and the self-sufficiency in sugar is approximately 90%, and that work is underway to achieve 100% self-sufficiency. Read also: White sugar prices jump by about 350 pounds per ton in the local market today Sugar prices are down 150 pounds per ton ...