Wednesday February 21st, 2024
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Sugar Prices Will Be Stabilised by Mid-December

“Be patient, sugar crisis to be solved mid-December,” says Ali Moselhi, Egypt's Minister of Supply and Internal Trade.

Cairo Scene

In recent weeks, the prices of sugar have seen great variability across stores and areas, as well as added inflation due to supply deficits. Currently, a kilogram of sugar is available in the market at three different price points, the official price of EGP 27, an inflated price of EGP 43 and an even further exaggerated EGP 48.

In response, Egyptian Minister of Supply and Internal Trade, Ali Moselhi, revealed that vendors who do not reduce sugar prices within a ten-day period will be subjected to governmental forced pricing measures.

“I am telling citizens that sugar is available. We must be patient for a while,” Moselhi said, during an interview on ON TV.

The Minister also explained that by the beginning of 2024, sugar prices would decrease to EGP 24-25 per kilogram.

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