Governmental companies in Egypt raise sugar delivery prices

Government companies in Egypt raised the prices of free sugar delivery to the commercial sector by 33%, bringing the price of a ton delivered to the factory floor to 32 thousand pounds, due to the rise in production costs and the liberalization of the exchange rate of the pound, according to three heads of government sugar production companies who spoke to Al-Sharq, stipulating that no Publish their names.

One of the heads of sugar companies affiliated with the Ministry of Supply confirmed to Al-Sharq that liberalizing the exchange rate “increased production costs in factories,” citing the price of natural gas as an example of the above, as the company used to obtain one million British thermal units for 145 pounds, and the price has now risen to 240. pounds.

This March, Egypt announced the liberalization of the exchange rate of the pound, which raised the price of the dollar against the Egyptian currency by about 60%, reaching 49.45 pounds, before the pound rose again at slight rates during the following days, reaching a limit of 46.5 pounds per dollar. (Bloomberg)