Global sugar prices fell from US$619 to US$540 per ton during the month of March, forcing local importers to lower retail prices, which in turn reduced the price of imported sugar on the local market from LE4000 to LE3600 per ton.
A report by the Foodstuffs Chamber of Commerce on global prices of strategic commodities–issued Tuesday–says global prices had reached US$770 per ton last October, but began to fall as of February and are now 30 percent cheaper than six months past.
The government had previously delayed imports of some 300,000 tons of sugar in anticipation of global price declines.
Translated from the Arabic Edition.
