Mohamed Farid Saleh, Egypt's Minister of Investment and Foreign Trade, met with officials from sugar production companies to review current market conditions. Discussions focused on strengthening the balance between domestic production and consumption, and developing balanced import and export mechanisms. The meeting is part of the ministry's efforts to organize the market and support local industry.
The meeting included senior officials from the sugar production sector, such as Shehab Marzban, Chairperson of Eastern Sugar Company; Kamel Abdallah, Chairperson of Canal Sugar Company; Emad Farid, Chairperson of Nile Sugar Company; and Mahmoud Fouda, Chairperson of Savola.
Emad Farid stated that the government places significant importance on value chains for strategic commodities, including sugar, noting that ongoing coordination with the private sector is a key pillar in ensuring regular production and market availability of goods. He also highlighted the ministry's commitment to studying cost structures in the food industries sector to ensure production sustainability.
The meeting reviewed changes in actual production costs amid current economic pressures and explored ways to achieve a strategic balance that protects the interests of both producers and consumers. Farid emphasized that market stability starts with regulating import and export mechanisms, while continuing to support and localize existing industries, as well as enhancing added value in both agricultural and industrial sectors and providing a transparent and predictable investment environment.
Production updates from the participating companies were also reviewed, along with regulatory measures governing the circulation and distribution of sugar in the domestic market, as part of government efforts to ensure adequate supply and maintain balance between production and consumption. Representatives of the sugar production companies expressed appreciation for the partnership-based approach adopted by the Ministry of Investment and Foreign Trade, emphasizing their commitment to cooperating in implementing recommendations to ensure stable supply and meet domestic demand. They also stressed the importance of continued coordination between the ministry and the private sector to strengthen production sustainability and maintain market balance.