Egypt has cancelled tariffs on imported sugar, the country's supply minister announced at a press conference on Friday where key ministers spoke about Thursday's decision to float the pound and cut fuel subsidies.
The tariffs on imported raw sugar were increased in February from 2 to 20 percent, and on refined sugar from 10 to 20 percent.
Last week, amid widespread reports of a sugar shortage, Egypt’s supply ministry increased the price of the subsidized sugar sold through ration cards by 40 percent to reach EGP 7 per kilogram.
According to the ministry, 71 million people use the government's subsidy cards to buy essential food goods.
The ministry has raised its provision of sugar from 4,000 tons to 9,000 tons per day to secure the essential commodity.