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Egypt’s state buyer, the General Authority for Supply Commodities (GASC) and the Egyptian Sugar & Integrated Industries Company (ESIIC) have contracted to import 165,000 tons of sugar, Ministry of Supply and Internal Trade stated on Tuesday.
Egypt has a strategic reserve of enough sugar until February 2024, the statement added. Earlier, GASC announced the practice of importing 50,000 tons of raw sugarcane from any source on behalf of ESIIC.
The contracts aim to secure the strategic stockpile for a future period, in anticipation of any changes, especially as there is a gap between production and consumption of up to 500,000 tons per year, an official source from the ministry of agriculture said.
