Egypt's Minister of Supply and Internal Trade Ali El-Meselhy decided Friday to decrease the price of unsubsidised sugar to EGP10.50 per kilogramme in order to end the disparity in prices that appeared after an acute sugar shortage that started last September.
According to a statement on the ministry's website, El-Meselhy’s decision also forces retailers to write the prices of sugar on the product's packaging.
The decision also includes selling a ton of sugar to merchants at a price of EGP 9.25 per kg and a ton of sugar for industrial purposes at EGP10.50 per kg.
The statement also said that the General Authority for Supply Commodities (GASC) will be the entity to hold tenders for importing raw sugar from international companies instead of the supply ministry. The imported raw sugar will be refined domestically.