Egypt: Sugar prices fell to 38 pounds in stores and commercial chains

Published 2024년 4월 16일

Tridge summary

In Egypt, sugar prices have decreased to 38 pounds per kilo, down from over 40 pounds before Ramadan, due to a drop in demand post-Ramadan and a large supply in the market. This supply boost comes from the Ministry of Supply's efforts to distribute sugar at reduced prices and a tender by the General Authority for Supply Commodities to supply 50,000 tons of raw cane sugar. The Minister of Supply and Internal Trade, Dr. Ali Al-Moselhi, has assured that Egypt's strategic sugar reserve, sufficient for six months, will be further bolstered by ongoing deliveries from farmers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Al Mal learned from sources in the Foodstuffs Division of the Federation of Chambers of Commerce about the decline in sugar prices in stores and commercial chains during the current week. The sources added in statements to Al-Mal that the price of a kilo of free sugar is now trading in the markets at levels of 38 pounds per kilo in stores and commercial chains, after it exceeded levels of 40 pounds before the month of last Ramadan. She indicated that there is a lull in the demand for sugar during the current period after the end of the holy month of Ramadan, especially since consumption increases during the month due to citizens’ demand for sweets and buying cakes, biscuits, and other needs of the month. The sources revealed the availability of large quantities of sugar in the markets during the current period, coinciding with the Ministry of Supply pumping large quantities into Ahlan Ramadan showrooms at a price of 27 pounds per kilo and in its affiliated outlets. Yesterday, ...

Source: Almalnews