Egypt’s Ministry of Agriculture has assured Reuters that the country has sufficient sugar reserves to last until the end of 2024. The government aims to produce around 2.4 to 2.5 million tons of sugar this season in an effort to address the ongoing sugar shortage. In addition, the Cabinet approved a plan to import one million tons of sugar last month.
The rising sugar prices, which have exceeded 50 Egyptian pounds ($1.05) per kilogram, have caused concerns among vendors and food and beverage companies, leading them to stockpile their supplies. To alleviate the crisis, the government has implemented various measures such as increasing subsidized sugar quantities in markets, reducing prices, imposing a temporary ban on exports, and implementing tighter control measures.
The Ministry of Agriculture official’s announcement provides some relief to the public regarding the sugar shortage. By producing more sugar and importing additional supplies, Egypt hopes to stabilize sugar prices and ensure an adequate supply for its citizens. The government’s efforts to address the crisis demonstrate a commitment to resolving issues that impact the daily lives of its people.