An Egyptian Ministry of Agriculture official informed Reuters on Sunday that sugar reserves are expected to last until the end of 2024. The country aims to produce around 2.4 to 2.5 million tons of sugar this season. To counter the sugar shortage, the Cabinet approved a plan to import one million tons of sugar last month. As a result of rising sugar prices, Egypt has been grappling with a sugar crisis, with prices exceeding 50 Egyptian pounds ($1.05) per kilogram.
The increase in sugar prices has led to concerns among vendors and food and beverage companies, prompting them to stockpile their supplies. The Egyptian government has implemented several measures to address the crisis, including boosting the quantities of subsidized sugar in the markets, launching initiatives to lower prices, temporarily banning exports, and tightening control measures.
Overall, Egypt is taking steps to mitigate the sugar shortage and stabilize prices to ensure that the supply meets the demand. By producing more sugar and reducing prices through various initiatives, the government hopes to alleviate the concerns surrounding the sugar crisis in the country.