Are you sure?

Sugar reserves to be released on Monday

Rural Development Minister Sándor Fazekas is expected to sign on Monday documents releasing and selling 2,000 tons of sugar from state reserves, state secretary Endre Kardeván said on Friday, on the sidelines of a sweets industry conference.

Half of the sugar will be sold in Coop stores and the other half in CBA stores, Fazekas said. Both chains are Hungarian-owned. The retail price for the sugar will be capped at HUF 275 per kilogram, he said.

The government announced early in May that it would release the reserves to bring down high sugar prices.

The average price for a kilogram of sugar in Hungary was HUF 341 in May, up from HUF 191 in the same month a year earlier, data from the Central Statistics Office (KSH) show.