Ministry of Supply increases sugar prices to EGP10,000 per tonne; will then be determined by global market
Egypt’s Ministry of Supply has officially increased the industrial prices of sugar by c43% to EGP10,000 per tonne from EGP7,000. According to the Food Industries Holding Company, sugar prices will not be fixed anymore, but will be determined by global market prices. Many domestic food producers were distressed by the recent announcement, as it is the fourth price increase for sugar in 2016. (Al Mal)
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