Last Update 19:25
Wednesday, 20 February 2019

Egypt's Edita halts production as authorities seize sugar supply: Chairman

The country has been facing a sugar shortage due to an acute dollar shortage, leading to a price hike in unsubsidized sugar

Ahram Online , Monday 24 Oct 2016
Egyptians push to buy subsidized sugar from a government truck after a sugar shortage in retail stores across the country in Cairo, Egypt, October 14, 2016. (Reuters)
Views: 3330
Views: 3330

Egyptian authorities raided and confiscated the sugar supply of the Edita Company on Thursday and Saturday, causing production to halt amid a market-shortage and rapid price hikes, the company's chairman said on Sunday.

The authorities seized around 2,000 tonnes of sugar that would have been used over the next three weeks in the company's production of pastries, cakes and snacks, Chairman Hani Berzi told news host Lamees El-Hadidy on CBC TV channel.

The company is facing an investigation by the authorities into the legality of its sources of its suga, Berzi added.

Berzi said Edita has been purchasing its sugar supply from a credible supplier for the past four years.

"What crime have we committed in storing sugar — a main raw ingredient in our production?" Berzi stated.

The seized sugar is currently being held in Edita's storage in Beni Sueif, under security protection.

Edita is the largest food company listed on the Egyptian Stock Exchange. Both Edita and Juhayna, the second largest company in the stock exchange's food sector, plunged during Monday's midday trading by 4.85 percent (EGP 7.79 per share) and 8.50 percent (EGP 3.70 per share) respectively.

The country has been facing a severe sugar shortage due to an acute dollar shortage, resulting in a price hike in unsubsidised sugar that has reached EGP 9-10 per kilogramme, up from EGP 4.5-6 in August.

Short link:


Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.

© 2010 Ahram Online.