When sugar is a more frightening topic at Halloween time than
ancient mummies, it’s because Egypt is actually running out of the commodity — and
its scarcity is creating conflict in that country, the American Sugar Alliance recently said.
In Egypt, the government has strict control of the industry,
owning all the sugar cane refineries and most of its sugar beet processing facilities.
Although the nation produces much of its own sugar, it depends on imports
for approximately one-third of the amount it needs annually.
With worldwide sugar surpluses dwindling, however, prices have
skyrocketed, creating an import problem for Egypt. Moreover, the country also
faces a currency predicament, making imports more difficult.
To curtail possible hoarding, Egyptian authorities have seized
available stores, and a banking economist in Cairo said that the government
is in crisis. Bloomberg News said 9,000 tons of sugar have been confiscated thus far and re-allocated to residents through state-level programs.
In May, Egypt’s industry and trade minister imposed an export tax
on sugar while simultaneously removing the import tax; but the impact was not
enough to resolve the imbalance. Recently, the government announced plans to
import and “stockpile” sugar; but panic continues to rise in Egypt as shopkeepers’ and food makers' hands are tied without access to the supply.
“Big Candy should be careful what it wishes for in its lobbying
pleas to unilaterally disarm and become dependent on subsidized foreign
suppliers,” the American
Sugar Alliance, based in Arlington, Virginia, said. “It's obvious that a country
cannot depend on sugar imports alone to feed its people.”
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