Egypt purchases $9-million worth of sugar
Egypt’s Ministry of Supply and Internal Trade recently purchased 200,000 tons of raw Carribean sugar for the total value nine million dollars, local press reported. Supply and Trade minister, Hassan Khidr, stated that the sugar is to arrive in five separate shipments of 40,000 tons each.
Egypt’s sugar stocks stand at 820,000 metric tons, 179,000 of which are considered strategic, according to the minister. A total of 500,000 tons of sugar will be imported to the country during the course of 2001, as local sugar production, expected to reach 1.5 million tons in 2001, can provide only 75 percent of the Egypt’s sugar demand.
This sugar purchase is Egypt’s first since last month’s introduction of new regulations restricting raw sugar imports by the ministry. — (Albawaba-MEBG)
© 2001 Mena Report (www.menareport.com)