Following a recent price increase of 1000 pounds per tonne, sugar prices were set today, Wednesday, December 10th, 2022, among wholesalers and customers. Glucose and starch prices persisted at the same levels.
The cost of sugar to consumers today
During the last period, the prices of sugar recorded a state of confusion, and the crazy rise with the escalation of the negative effects of the Russian -Ukrainian war on the movement of the market and the import of goods, in addition to the continuous increase in the exchange rate of the dollar.
Prior to this, Hassan Al-Fandi, head of the Sugar and Hallawi Division of the Food Industries Chamber of the Federation of Industries, urged the Ministry of Supply and Internal Trade to take immediate action and carry out the same procedures it did during the previous year of 2021, which was symbolised by the sacrifice of quantities of sugar in the markets, addressing rumours, continuing management of the system, and activating the role of the government.
He added during the meeting of the Sugar Division of the Federation of Industries, in late September, that the prices of sugar jumped exaggerated and exceeded 14 thousand pounds per ton, pointing out that these severe increases affect the industry and the export markets are lost and explained that Egypt consumes 3. 200 million tons annually, producing 2. 200 million tons. Additionally, there is a shortage of 800 to 1 million tonnes of foreign imports.
Mohamed Fawzi, the former director of the Division of Sugar and Sweets, underlined that the issue and sugar crises will persist without a clear approach.
Regarding the international markets, the New York Stock Exchange’s morning trading session on Wednesday saw a spike in the price of crude sugar futures, while the London Stock Exchange’s white sugar futures also rose in response to the news.
current sugar pricing
WHITE SUCTION
After rising by 1000 pounds, the price of a tonne of white sugar stabilised today at 16. 125 pounds.
Prices of glucose
The price of a tonne of glucose has also been shown to be 14,000 pounds.
prices for food starch
Prices for food starch have steadied and are now 15. 200 pounds per tonne.
The cost of sugar to consumers
The cost of a kilo of sugar for the consumer was 13 pounds as of today, Wednesday.
Prices of white and raw sugar on international stock exchanges
Price changes for raw sugar on the New York Stock Exchange
The March 2023 contract for the New York Stock Exchange’s crude sugar futures reported around 18. 81 cents for a pound, a gain of 0. 07 cents, at the time this article was being written.
The May 2023 contract increased by 0. 39%, or 0. 07 cents, to hit a high of 17. 88 cents a pound.
The price of white sugar on the London Stock Exchange
The prices of futures for white sugar in the morning session increased at the beginning of trading today, Wednesday, on the London Exchange of Commodities, where the trading contract increased to December, to reach 563 dollars per ton, by an increase of $ 5, or 0. 90% and the March 2023 trading contract increased, to register 514. 5 A dollar of ton, an increase of $ 2. 60..
Today, Wednesday, October 12, 2022, sugar prices in the Egyptian market
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