Egypt: Sugar Annual
In MY2015/2016, total raw sugar production is forecast to increase 3 percent to 2.127 MMT from MY2014/15 due to an increase in raw beet sugar production of 60,000 MT or a total of 1.210 MMT. Raw sugar imports are expected to decrease by 23 percent or 300,000 MT to 1 MMT from MY2014/15. The government’s new food subsidy program eliminated subsidized sugar prices; however, it now provides a LE 15 ($1.96) monthly stipend so that consumers can choose from over 42 commodities. The new market-oriented system has resulted in lower prices for imported sugar than locally produced sugar. Consumption is expected to increase by 2.5 percent driven by population growth.
