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Trade Chambers: Export decision won't impact local sugar prices
Dr. Alaa Ezz, Advisor to the General Union of Chambers of Commerce, confirmed that the decision by the Minister of Investment and Foreign Trade to export sugar will not affect its price in the local market, despite the annual consumption estimated at 3.4 million tons. He explained that current year’s production is approaching 3 million tons, with a rollover surplus from last year exceeding 1.4 million tons, which exposes citizens to additional costs due to holding the excess. He pointed out that export is a suitable solution, especially given the possibility of importing raw sugar and refining it locally at lower cost when needed.
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