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palestina libera · Beiträge: 1665

Egypt has increased the prices of subsidised sugar and cooking oil for the second time in three months, amid rising inflation and a struggling economy.

The decision, announced last week, increased the price of subsidised sugar by 14.3 percent – from seven to eight Egyptian pounds a kilo (about 40 cents), and increased the price of subsidised oil by 20 percent, from 10 to 12 Egyptian pounds.

Last November, Egypt suffered a sugar crisis that increased tensions in the country.

Egypt imports about one million tonnes of sugar annually, but an acute shortage of dollars has cut the imports by private traders, leaving the market short as the government scrambles to fill the gap.

Major food companies such as Pepsi halted production in Egypt after the government seized weeks of sugar supplies, amid nationwide shortages of the staple.
http://www.middleeasteye.net/news/egypt-increases-food-prices-second-time-three-months-1814861743