{"id":610775,"date":"2023-11-27T00:00:00","date_gmt":"2023-11-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/27\/the-usd-is-to-blame-for-the-lack-of-sugar-in-the-market\/"},"modified":"2023-11-27T00:00:00","modified_gmt":"2023-11-27T00:00:00","slug":"the-usd-is-to-blame-for-the-lack-of-sugar-in-the-market","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/11\/27\/the-usd-is-to-blame-for-the-lack-of-sugar-in-the-market\/","title":{"rendered":"The USD is to blame for the lack of sugar in the market"},"content":{"rendered":"

All about sugar. <\/strong>The nationwide sugar shortage and the government\u2019s plan to tackle it have pulled the nation\u2019s talking heads' attention after days and days of Gaza coverage. <\/p>\n

FX crunch to blame for sugar crisis -El Moselhy: <\/strong>As local sugar prices continue to soar, Kelma Akhira\u2019s Lamees El Hadidi looked to Supply Minister Ali El Moselhy (watch, runtime: 13:42<\/a>) to provide some clarification as to the why and the how. The minister blamed a jump in global sugar prices and the current fluctuations in the EGP\/USD exchange rate, which have made it difficult for food producers to import the needed sugar supplies for production. The Supply Ministry had to dip into its reserves to help plug the gap created by the lack of imported sugar, which in turn messed with its distribution chain and created the current illusion of a shortage, El Moselhy said.<\/p>\n

\u201cIt\u2019s not a lack of supply \u2026 we just need better organized distribution chains,\u201d<\/strong> he said, adding that it will take 7-10 days for the market to settle down. El Moselhy mentioned the possibility of introducing price controls on sugar, to which El Hadidi voiced skepticism (watch, runtime: 3:59<\/a>). Ala Maso\u2019uleety also had coverage (watch, runtime: 12:20<\/a>). <\/p>\n

Also getting attention last night:<\/strong><\/p>\n