The move aims to protect the national industry from
fluctuations in global sugar prices following a dip in oil prices.
Cairo-
September 8, 2020
Minister of Trade and Industry Nevine Gamea has announced
extending Ministerial Decree No. 259 of 2020 banning imports of white sugar for
another three months, as of publication in the official gazette.
The decree, which to be periodically reviewed according to
developments, excludes quantities of white sugar imported for the
pharmaceutical industry, provided that the competent authority at the Ministry
of Health and Population approves them.
It also stipulates the suspension of raw sugar imports for three
months as well, unless an import approval for the required quantity is granted
by the two ministers of trade and supply.
“The move comes after coordination with the Minister of
Supply and Internal Trade, and it aims to protect the national industry from
fluctuations in global sugar prices following a dip in oil prices,” Gamea said.
She pointed out that the decision allows the country to
dispose of its stock of sugar, which amounts to about 1.4 million tons, sufficient
for over six months.