Gov’t to purchase 75-80k tonnes from sugar producers to clear market oversupply

The Supply Ministry could purchase between 75-80k tonnes of sugar from sugar beet producers to help them clear off stacked inventories, ministry sources told the press. The ministry is currently in talks with state-owned Dakahlia Sugar & Refining, El Nubaria for Sugar Refining, and Delta Sugar Company to purchase the sugar at EGP 7,000, a discount from the market price of EGP 7,250 per tonne.