Importers to sell sugar at auction in Algeria
Algeria will start selling imported sugar from the European Union (EU) at auction from now on in order to fix its price in the national market, says trade minister Hachemi Djaaboub.
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“A ministerial decree will be promulgated before June to sell 150,000 tons of imported sugar from the EU per year with no customs tax,” said the minister on the sidelines of a meeting.
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“The imported sugar will be sold at auction to the Algerian operators who will benefit from 150,000 tons according to FIFO system,” he added.
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The decree stipulates that importers should sell sugar at auction at a lower price by 20 percent at least than the price of imported sugar from other regions. The price difference will be paid to the Public Treasury.