Egypt imposes 900 Egyptian pound/tonne sugar export tax

Reuters , Thursday 19 May 2016

Camel riders help transporting reaped canes from the land to trucks (Photo: Bassem Abo Al Abass)
Camel riders help transporting reaped canes from the land to trucks (Photo: Bassem Abo Al Abass)

 Egypt has imposed a 900 Egyptian pound ($101.35) per tonne tax on exported sugar effective until the end of the year.

The decision was published in Egypt's legal journal and came into effect on Wednesday.

Egypt cancelled a temporary tariff levied on sugar imports in February after completing an investigation into possible dumping of the commodity.

It had imposed the 20 percent tariff in 2015 for 200 days following a filing to the World Trade Organization to safeguard domestic producers from a damaging surge in imports.

Egypt consumes around 3.2 million tonnes of sugar annually but produces just over 2 million tonnes.

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