Sugar producers hike factory prices: State-owned sugar producers have ramped up their factory price of sugar by up to 33% to the Supply Ministry-imposed ceiling of EGP 32k per ton on the back of rising production costs triggered by the EGP float, Asharq Business reports, citing the three anonymous heads of state-owned sugar companies.

On supermarket shelves: The increase should bring the cost of sugar to the final consumer to EGP 35 per kg from government outlets. To ensure that retailers uphold that price, factories will reportedly be required to provide invoices that indicate the price at which they sold the sugar.

Remember: In response to the spiraling cost of sugar, the government listed sugar among six other items as “strategic commodities” in January, prohibiting traders from withholding them from the market and the month after imposed prison sentences and fines for food hoarding. Despite the government selling a kilogram of sugar through its outlets at EGP 27, the lack of enough sugar in the market has led to private shops and supermarkets hiking prices to over EGP 55 a kilogram.

ICYMI: The Trade Ministry last week extended its ban on the export of sugar for three months for the second time.

Gov’t secures 110k tons of wheat: State grains buyer GASC has awarded a tender to UAE’s Al Dahra and Bulgaria’s Buildcom to supply 110k tons of wheat, Al Borsa reported, citing a Supply Ministry official.

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