ﻣﻮﻗﻊ ﺻﺪﻱ اﻟﺒﻠﺪ

Supervisor
Elham AbolFateh

Business

Egypt scraps tariff imposed last year on sugar exports

Wednesday 08/August/2018 - 10:34 AM
Sada El Balad
Sada ElBalad-Nada Moustafa
Egypt has cancelled a tariff imposed last year on sugar exports، the ministry of trade and industry said in a statement received on Wednesday، in a move that opens the door for exports to resume، Reuters reported.

The Egyptian government last year imposed a tariff of 3،000 Egyptian pounds($168.26) per tonne on sugar exports as part of efforts to stem a rise in sugar prices in the local market.

In the statement، the ministry of trade and industry said the decision to lift the tariffs was made because of a sugar surplus in the market that can be exported.
Egypt had previously said it expected to produce about 2.3 million tonnes of sugar this year. It consumes about 3 million tonnes and fills the gap with imports.

Comments

ads

Poll

What do you think about our new design?

What do you think about our new design?
ads