(AFP photo)
The Egyptian Sugar and Integrated Industries Company (ESIIC) bought a ton of sugar cane from farmers at EGP 400. The price was confirmed in a meeting held Sunday between Minister of Supply Khaled Hanafy with Head of the Farmers Syndicate Osama El-Gahesh on the sugar cane harvesting season.
The Ministry of Supply bares EGP 100 of this price to support the sugar company thus decreasing the price per ton of sugar to EGP 1,000, to compete strongly in the market.
Hanafy said during the meeting that the General Authority for Supply Commodities (GASC) will buy all ESIIC’s sugar stock, pointing out there is a plan for the latter’s development to increase its production. In addition, it will put sugar in markets through commercial branches, super markets and export abroad.
Hanafy declared that logistics centres for agricultural crops will be established in all governorates through Internal Trade Development Authority (ITDA). It is aimed that this will reduce the wasted goods, preserve and provide them in large quantities with low prices for citizens.
“A number of goods exchanges will be held to strengthen small-scale producers and farmers and eliminate the monopoly of agricultural commodities,” Hanafy said during the meeting.
Hanafy added that he will hold an expanded meeting next month involving the Ministry of Supply represented by ITDA. The meeting will involve the participation of the head of the Farmers Syndicate and a large number of specialists, to develop operational mechanisms to start establishing these logistics centres to serve farmers and consumers.
Sugar crop is one of the most important vegetable industries in the villages of Upper Egypt and is considered a source of livelihood for thousands in Aswan, Qena and Sohag, Minya. A further 27 secondary industries rely on sugar cane, one of the most famous industries include molasses, wood pulp, wax and fertilisers.
