The rise in sugar prices globally during Thursday's trading, and its stability in the Egyptian market

Published 2022년 5월 5일

Tridge summary

Global white sugar prices have increased by 0.64%, with a ton costing $520.20 due to the Russian-Ukrainian crisis, inflation, and the Federal Reserve's decision to raise interest rates. Despite this, local markets in Egypt have seen stabilized prices at 10.50 in consumer complexes and between 12 to 15 pounds per kilo in the free market, thanks to a 90% self-sufficiency in sugar achieved through increased local production. The Ministry of Supply and Internal Trade is overseeing the production of local sugar from sugar crops and ensuring the health and safety of factory workers. National companies are also purchasing cane and beets from farmers to be used in sugar production.

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

Original content

White sugar prices globally rose by 0.64%, and the price of a ton recorded during trading today, Thursday, May 5, 520.20, an increase of 4 dollars from yesterday’s prices, which concluded trading at a price of 516.90 dollars per ton, and the strategic commodity markets are witnessing a state of tension and confusion due to The Russian-Ukrainian crisis, the increase in inflation, in addition to the impact of the Federal Reserve’s decisions to raise the interest rate. While prices in the local market stabilized at 10.50 in consumer complexes and catering outlets, and ranged in the free market between 12 to 15 pounds per kilo, due to the increase in local production and achieving self-sufficiency by 90% %. The Ministry of Supply and Internal Trade continues to produce local sugar from sugar crops (cane and beets), as national companies receive cane and beets from farmers and introduce sugar crops directly to their factories' production lines, which have been modernized and developed ...

Source: Akhbarelyom