After sugar prices dropped by 150 pounds per tonne last Friday, they steadied among wholesalers in the Egyptian local market today, November 7, 2022, for the third day in a row. In addition, the cost of dietary starch glucose remained constant. Beginning with the first week of trading on the New York Stock Exchange, the prices of crude sugar futures saw an increase, and the prices of “White” future sugar contracts on the London Stock Exchange also increased.
After sugar prices dropped by 150 pounds per tonne last Friday, they steadied among wholesalers in the Egyptian local market today, November 7, 2022, for the third day in a row. In addition, the cost of dietary starch glucose remained constant. Beginning with the first week of trading on the New York Stock Exchange, the prices of crude sugar futures saw an increase, and the prices of “White” future sugar contracts on the London Stock Exchange also increased.
After sugar prices dropped by 150 pounds per tonne last Friday, they steadied among wholesalers in the Egyptian local market today, November 7, 2022, for the third day in a row. In addition, the cost of dietary starch glucose remained constant. Beginning with the first week of trading on the New York Stock Exchange, the prices of crude sugar futures saw an increase, and the prices of “White” future sugar contracts on the London Stock Exchange also increased.
The price of white sugar on the London Stock Exchange
During the morning session of trading on Monday, white sugar futures fell by $ 9. 30 or 1. 73% to reach $529.70 a tonne on the London Exchange of Commodities, where the trading contract for December fell.
The March 2023 trade contract dropped by $7. 40 to $ 505 per tonne.
The cost of sugar in Egypt right now
In an interview with media representative Amr Adib for the “Al-Hakaya” programme on the “MBC Egypt” channel, Minister of Supply and Internal Trade Ali Al-Muselhi confirmed that the price of sugar is correlated with the price of oil. He added that sugar is one of the most significant foods that can be transformed into clean energy. This trend is supported in the United States of America, which raises the price of sugar.
Earlier, Hassan Al-Fandi, head of the Sugar Division of the Food Industries Chamber of the Federation of Industries, confirmed that there have been unjustified price increases for sugar in the local market, which has caused the spread of multiple prices and confirmed that the price of sugar is currently unclear, whether for business or consumers. He demanded the Ministry of Supply’s intervention, pumping more into the market and fighting any increases that may occur.
On the New York Stock Exchange’s first week of trading, the prices of crude sugar futures saw an increase, and the prices of “white” sugar contracts on the London Stock Exchange also increased.
Egyptian sugar prices as of today, November 7, 2022
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