The Egyptian Ministry of Trade and Industry has extended the ban on sugar exports for an additional three months to stabilize the domestic market. This decision, under Ministerial Resolution No. 88/2023, mandates that sugar can only be exported after ensuring that domestic requirements are met and any surplus is approved by the Ministry of Supply and Internal Trade and the Minister of Trade and Industry. This measure aims to maintain an adequate supply of sugar within Egypt, especially following recent shortages and price hikes.
The extension of the export ban comes as a response to the sugar crisis that led to soaring prices and scarcity in the market towards the end of the previous year. The Egyptian government, recognizing the gap between national production and consumption, is taking proactive steps to ensure that there is sufficient sugar available for the country's needs. This action also reflects the government's commitment to closely monitoring and managing the nation's essential food supplies.
Egypt produces approximately 2.8 million tonnes of sugar annually, while the domestic demand is around 3.5 million tonnes. To bridge this gap, the government is focusing on increasing the local production of sugar beet, with 600,000 feddans allocated for cultivation in various governorates. This initiative is part of a broader strategy to enhance self-sufficiency and reduce dependency on imported sugar, ensuring stable and consistent availability for the Egyptian population.