Cabinet spokesperson Counselor Mohamed El-Homsani confirmed that Egypt has a strategic sugar reserve sufficient for one full year, noting that the price of one kilogram at consumer supply outlets is 28 Egyptian pounds, compared with more than 50 pounds per kilogram about two years ago. This comes as part of the state’s efforts to ensure the availability of essential goods and maintain market stability.
In a statement to the Middle East News Agency, the Cabinet spokesperson explained that the meeting held by Prime Minister Mostafa Madbouly to follow up on efforts to provide essential goods, increase strategic reserves, meet citizens’ needs, and maintain market stability reviewed the efforts of ministries and coordination with relevant authorities. The goal is to ensure the availability of various essential commodities and maintain sufficient stocks for long periods, in implementation of President Abdel Fattah El-Sisi’s directives to build a secure and reassuring reserve of strategic goods, helping regulate markets and achieve greater price balance.
El-Homsani added that outlets operated by ministries and concerned authorities, both permanent and mobile, are providing sufficient quantities of goods at competitive prices across all governorates. This has contributed to lower prices for several commodities, especially sugar.
He also emphasized that the meeting stressed the importance of daily monitoring of markets and commodity availability, through intensified inspection campaigns to ensure market discipline, prevent exploitation of consumers or price manipulation, and take firm action against violations to protect citizens’ rights and promote transparency in commercial transactions.
Source: The National Media Authority online portal
