Egyptian Customs Authority extends halt on sugar exports for additional 6 months
Date
10/9/2024 4:22:21 AM
(MENAFN) The Egyptian Customs Authority has issued Export Circular No. 17 of 2024, announcing the extension of the decision to halt sugar exports for an additional six months, based on Ministerial Decision No. 271 of 2024 from the Ministry of Trade and Industry. This continues the previous ban outlined in Export Circular No. 4 of 2023, with exceptions for surplus quantities that exceed domestic demand, subject to the Ministry of supply and Internal Trade’s approval.
The extension is supported by Ministerial Decision No. 68 of 2024, which mandates the continuation of the export ban implemented under Ministerial Decision No. 88 of 2023. This decision follows recommendations made in a Foreign Trade Agreements Sector memorandum dated August 17. Egypt’s sugar consumption is among the highest globally, with each person consuming 51.4 kilograms annually, nearly double the world average, according to the OECD.
Matta Bashay, head of the Supply Committee of the General Importers Division, praised the Ministry of Investment and Foreign Trade’s decision, emphasizing that it’s a wise move to ensure the local market's stability. Egypt produces 2.8 million tons of sugar annually, mainly from sugar beets and sugar cane, while importing raw materials from Brazil and the European Union.
Additionally, the Minister of Supply and Internal Trade issued Decision No. 165 of 2024, which adjusts the weight of tea packages prepared for sale, adding a new weight category of 225 grams. This decision comes as the global food price index, tracked by the Food and Agriculture Organization (FAO), experienced its largest increase in 18 months, driven by rising sugar prices.
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