Egyptian Minister of Supply and Internal Trade Ali Moselhi said Egypt signed contracts to import 100,000 tonnes of raw sugar within the framework of the Supply Ministry’s strategy to increase its stock of basic commodities.
In statements to “El Hekaya” TV program on MBC Masr on Monday, the minister said a shipment of 50,000 tonnes of raw sugar is expected to arrive in Egypt in July and another consignment of 50,000 of sugar will arrive in August.
The funds were provided through the International Islamic Trade Finance Corporation (ITFC), a subsidiary of the Islamic Development Bank, the minister noted.
The beet and sugar cane season ends in July and the factories operate from June to September in the process of refining raw sugar, the minister said.
Egypt has self-sufficiency in sugar up that reached up to 89 percent and a small amount is imported to cover the rest of its needs, the minister added.
Nearly 200,000 tonnes of raw sugar has recently been imported, he added.
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