[Ennahar] Algeria has imported over one billion dollars (nearly 800 million euros) of brown sugar and crude oil in 2010, two commodities whose prices have soared, leading to deadly riots, said Wednesday Customs.
Imports of raw sugar reached 1 million tons for $ 495 million and 625,743 tons of crude oil for 580 million dollars, according to preliminary figures provided by the customs to the agency APS.
These amounts represent approximately one sixth of the import bill of food products in 2009, estimated at nearly $ 6 billion.
The prices of oil and sugar have seen a surge leading up to January 5 deadly riots.
To cope, the government decided to subsidize the price for a $ 260 million until the end of August.
Trade Minister Mustapha Benbada had called Sunday wholesalers to meet the price set by the state at 90 dinars (0.90 euro) for a kilo of sugar and 600 dinars (6 euros) for the 5 liter oil can. They had reached 140 dinars (1.40 euro) and 975 dinars (9.75 euros).
Rich countries in hydrocarbons, Algeria in 2010 earned more than $ 55 billion of revenue for oil and gas, up 25% compared to 2009. It had 150 billion in foreign reserves at end-July 2010. |