Home | News    Monday 11 March 2013

Forex shortage threatens Sudan’s largest flour company


March 10, 2013 (KHARTOUM) – Sudan’s largest flour company has been forced to cut its production by 50% because of foreign currency shortage, Sudan Tribune has learned.

JPEG - 16.6 kb

Sayga Flour Mills, which is part of DAL Group, relies on Byblos Bank, Abu Dhabi National Bank and Saudi Sudanese Bank to provide Guarantee Letters for the purposes of importing wheat and other production items.

Those banks informed Sayga that the Bank of Sudan did not inject the needed Forex supply in their accounts to issue new Guarantee Letters.

Sudan imports approximately $800 million annually worth of wheat to cover domestic consumption.

The Chairman of DAL group Osama Daoud Abdel-Latif informed officials at the central bank and these banks that Sayga’s bread production estimated at 8 million is now at stake over the issue of Forex shortage.

A banking source told Sudan Tribune that Sayga is forced at times to buy Forex from the black market which eventually leads to higher flour and bread prices.

Sudan is battling its biggest economic crisis for decades as it struggles with a severe shortage of hard currency following the loss of three quarters of its oil production due to South Sudan’s independence in 2011.

Oil revenues were the main source of revenue for Sudan’s budget and for foreign currency needed to pay for vital imports including food and medicine.

The Sudanese pound is currently trading at more than 7 pounds to the dollar compared to an official rate of 4.4.

Because banks and Forex bureaus are unable to supply enough dollars, the black market rate is seen as the benchmark for the real market value of the pound.

Since late last year Sudanese authorities started rounding up currency traders after the central bank announced that it will prosecute anyone dealing in the black market.


Comments on the Sudan Tribune website must abide by the following rules. Contravention of these rules will lead to the user losing their Sudan Tribune account with immediate effect.

- No inciting violence
- No inappropriate or offensive language
- No racism, tribalism or sectarianism
- No inappropriate or derogatory remarks
- No deviation from the topic of the article
- No advertising, spamming or links
- No incomprehensible comments

Due to the unprecedented amount of racist and offensive language on the site, Sudan Tribune tries to vet all comments on the site.

There is now also a limit of 400 words per comment. If you want to express yourself in more detail than this allows, please e-mail your comment as an article to comment@sudantribune.com

Kind regards,

The Sudan Tribune editorial team.
  • 11 March 2013 11:08, by Observer

    Oh great!
    Now one of our most successful companies here in Sudan is being affected by our governments incompetence.

    repondre message

    • 11 March 2013 12:10, by Mohammed Ali 2

      Observer, great for you! Not great for us , Sudanese! "Difficiency complex" makes you always say " our".Did you ever see Jalabi,master or north Sudanese say " our".Try to be intelligent like Sudanese once in your life and stop bluffing and lying!

      repondre message

      • 11 March 2013 14:33, by Junta

        Expect worse things to happen! I know the condition of Sudan’s economy is worse than what is reported to the Media. The fact is RSS used to be the life line for Sudan’s economy, more so the NCP thieves were so much used to stealing South Sudan’s resources to sustain there beleaguered economy, now it is not there! South is applying Sharia on the North by chopping off their hands & tongues

        repondre message

      • 11 March 2013 14:53, by Observer

        M Ali 2
        Just rolls my eyes at you..
        Are Jalaby, Master, Northern Sudanese the ones who set the standard in here are they and how they write should be the way all Sudanese write??
        Why don;t they say our country.. as it is OUR country- all of US who live in Sudan.
        You just don’t seem to understand that all Sudanese in OUR country do not support what is happening in OUR country.

        repondre message

      • 11 March 2013 14:55, by zulu

        Those of the Nuer Jalaba, Mistress, Sudani, pitied pet say our because they are the dishonest NCP like you. But the honest and intelligent suffering sudanese look broadly and do not absorp the mismanaged policies of the NCP who is running the country amok. Where are the mega projects gold, sugar and arab counteis powering in money? Liars are being caught red handed now

        repondre message

        • 11 March 2013 16:05, by master

          enjoy your cow urine
          we will show you ugly monkey
          your life depend on us for ever so be polite

          repondre message

          • 12 March 2013 04:00, by zulu

            Thank God I dont speak nor read that stupid language. I was born during the hostilities against the Jalaba in Torit and so did I grow up rejecting to learn in School that stupid language which is not Sudanese but Arabian.
            I am very proud of my identity. Not like you quite confused to this day and age. Go get $%#^&&^ in your stinky butt

            repondre message

        • 11 March 2013 16:06, by master

          enjoy your cow urine
          we will show you ugly monkey
          your life depend on us for ever so be polite

          repondre message

Comment on this article

The following ads are provided by Google. SudanTribune has no authority on it.

Sudan Tribune

Promote your Page too

Latest Comments & Analysis

What Makes an Uprising? 2021-09-03 17:29:45 By: Dr Lam Akol* In an undated article, Hon. Atem Garang de Kuek discussed what was required for an uprising in South Sudan to succeed as did three uprisings in the recent history of Sudan (...)

Is IGAD partly responsible for current confusion in South Sudan? 2021-08-21 09:41:17 By Bol Khan In April 2016, Radio Tamazuj posted and answered questions about the fainting Security arrangements or demilitarization of the capital, Juba as stipulated in 2015's signed ARCSS and (...)

South Sudan People Coalition for Civil Action (PCCA) is to create warlords 2021-08-19 11:06:28 By Steve Paterno In South Sudan, where just about everyone has access to guns (tons of them), and almost every ambitious politician is a potential warlord, any slight destabilization of the (...)


Latest Press Releases

Statemeny bu Hala al-Karib to UN Security Council on women conditions in Sudan 2021-09-15 11:59:16 Statement by Ms Hala Al-Karib to the UN Security Council 14 September 2021 Madam President, Excellencies, My name is Hala Al-Karib and I am the Regional Director of the Strategic Initiative (...)

Joint Communiqué on the visit of H.E. the Prime Minister of the Republic of Sudan to Juba 2021-08-23 11:23:26 19 – 21 August 2021 His Excellency Dr Abdallah Hamdok, Prime Minister of the Republic of the Sudan and Chairperson of IGAD, accompanied by Ministers of Defence, Foreign Affairs, Trade, (...)

S. Korea supports UN communities building resilience project in Sudan’s Blue Nile 2019-09-09 09:26:41 UNDP Sudan September 5, 2019 (KHARTOUM) - An agreement was signed on 5th of September between the Korean Ambassador, His Excellency. Lee Ki-Seong and Dr. Selva Ramachandran, Resident (...)


Copyright © 2003-2021 SudanTribune - All rights reserved.