CAIRO: Egypt is cancelling a temporary tariff levied on sugar imports in 2015 after completing an investigation into possible dumping of the commodity, the ministry of trade said on Tuesday.
Egypt said in April it would impose a 20 percent tariff on sugar imports for 200 days following a filing to the World Trade Organization to safeguard domestic producers from a damaging surge in imports.
The tariff carried a minimum charge of 700 Egyptian pounds ($89.40) per tonne and was levied while the government investigated whether an influx of sugar imports constituted harmful dumping of the commodity by foreign producers.
Temporary “safeguard tariffs” are allowed under WTO rules if there is a sudden, unexpected and damaging surge of imports, and if the country that imposes the tariffs first seeks the views of interested parties.
Egypt consumes around 3.2 million tonnes of sugar annually but produces just over 2 million tonnes, leaving a gap of slightly over a million tonnes a year for imports.