Egypt exempts raw sugar importers from customs duty

CAIRO: Egypt will exempt importers of raw sugar from a 20 percent tariff up to the end of 2016 which will be effective retroactively from May 20, the state's official gazette said on Sunday.

Earlier this year, Egypt raised import tariffs on raw cane and raw beet sugar to 20 percent from 2 percent, according to a United States Department of Agriculture report.

Egypt consumes around 3.2 million tonnes of sugar annually but produces just over 2 million tonnes.

Egypt last week imposed a 900 Egyptian pound ($101.35) per tonne tax on exported sugar effective until the end of the year.