Sugar importers are reportedly dumping sugar into the local market, according to the Head of Food  Industries Syndicate, Hisham El Aasar speaking to Al Ahram. Egypt produces c1.8 million tonnes of sugar per annum, while local consumption stands at c2.4 million tonnes; however, importers bring excess volumes, he added. Egyptian producers’ warehouses are piling up with sugar, while increased import levels are costing the country hard currency. Nine factories are at risk of shutting down, mostly in upper Egypt and need to repay EGP3 billion of debt to the cooperatives, after withdrawing EGP2.5 billion in overdrafts from banks. (Al Ahram)