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Egypt Fertilizer Industry Group Warns Gas Cuts Will Hurt Exports

Oct. 17 (Bloomberg) -- Egypt’s Chemical & Fertilizers Export Council warned that the government’s decision to cut the amount of gas supplied to fertilizer companies by 60 percent will reduce production and exports, and boost the black market, the state-run Middle East News Agency reported.

The decision will hurt the country’s exports of fertilizers, MENA said, citing Walid Helal, head of the group.

Egypt says it plans gradually to remove subsidies for the cement, fertilizer and iron and steel industries in an effort to reduce the budget deficit.

To contact the reporter on this story: Salma El Wardany in Cairo at selwardany@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net.

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