The move aims to protect the
national industry against fluctuations in global sugar prices.
Cairo- June 4,
Minister of Trade and Industry Nevine Gamea has issued a decree
banning the import of white sugar for three months, as of publication in the
The decree excludes the quantities imported as a key input in pharmaceutical
industries provided that approval from the health ministry is obtained.
“The move aims to protect the national industry against
fluctuations in global sugar prices, especially raw sugar, that fell 30% as a
result of the slump in oil prices,” Gamea said, pointing out that the decision
was made in coordination with the Ministry of Supply and Internal Trade.
Minister of Supply and Internal Trade Ali Moselhi said that the
past period witnessed a surge in sugar imports that caused overstocking.
He noted that the country’s total sugar
consumption amounts to 3.2-3 million tons annually, including 2.4 million tons
produced domestically, saying that many new projects will start production soon
which will ensure Egypt’s self-sufficiency in sugar.