Date: July 19, 2023- The General Authority for Supply Commodities (GASC) and the Egyptian Sugar & Integrated Industries Company (ESIIC) have recently reached an agreement to import 165,000 tons of sugar, according to an announcement by the Ministry of Supply and Internal Trade on Tuesday. The move comes as Egypt seeks to maintain its strategic sugar reserves, which are currently sufficient until February 2024.
In a previous statement, GASC had revealed plans to import 50,000 tons of raw sugarcane from any available source on behalf of ESIIC. These contracts are part of Egypt’s efforts to secure its strategic stockpile, ensuring a steady supply of sugar for the future, particularly considering the existing gap of up to 500,000 tons per year between production and consumption.
The Ministry of Agriculture confirmed this information, citing an official source, and highlighted the importance of these contracts in preparing for potential changes in the sugar market. By proactively securing the necessary sugar reserves, Egypt aims to mitigate any future challenges that may arise.
Egypt, a major sugar consumer, continues to prioritize maintaining a stable sugar supply to meet the demands of its population. The recent contracts demonstrate the government’s proactive approach to ensure the country’s sugar needs are met and to address any potential fluctuations in the market.
