CLOSE X
Advertisement

Egypt imposes sugar export tariff

Commodities

Cairo - Egypt will impose a sugar export tariff of 3 000 Egyptian pounds ($165.47) per tonne, the state's official gazette said on Thursday.

Egypt expects to produce about 2.4 million tonnes of sugar from its harvest this year, less than the roughly 3 million tonnes it consumes each year, with the gap made up by a mix of private and public sector imports.

Share this story
Supplied picture

Egypt last month removed a tariff on raw sugar imports through the end of 2017.

Traders, have said that tariffs applied to raw and white sugar impeded private importers from securing supplies and contributed to a sugar shortage last year.

One Middle East sugar trader said the new export tariff "won't change anything on the ground as no locally produced sugar is being exported at the moment", with the exception of sugar produced by Savola, which will be unaffected because its operation is based in a free zone.

Read also: Armyworms may invade sugar

The export tariff will take effect on Friday, the gazette said.

REUTERS 

Share this story
Advertisement
X