Egypt has announced an extension of its ban on sugar exports for an additional three months, with exceptions only for surplus quantities beyond domestic market requirements, as reported in the official gazette.
This decision comes in the wake of a recent cabinet approval for a concurrent three-month ban on exporting onions. Both measures are part of Egypt’s concerted efforts to manage and stabilize prices within its markets.
The extension of the sugar export ban serves as a precautionary measure to ensure an ample supply of sugar for domestic consumption, encompassing both human consumption and industrial applications. The move is particularly significant given the recent upswing in global sugar prices, which has made sugar exports a lucrative venture for companies.
Egypt is actively engaged in an ambitious land reclamation program aimed at expanding its agricultural acreage, with plans to reclaim approximately 3.5 million feddans. These efforts are part of Egypt’s strategy to bolster its agricultural production capabilities and strengthen its food security.
