Egypt to ban rice export as of September 1st
Egypt’s ministry of trade and industry will ban the export of all types of rice starting September 1st, a ministry decree made Thursday.
The ministry is yet to decide on the duration of the ban, Sayed Abu Qomsan, a deputy for the minister, told Reuters.
The ban reverses an earlier decision issued last October which allowed the export of Egyptian medium-grain rice with a 2000 Egyptian-pound ($279.72) tariff per tonne, payable to the government. Export licenses granted after the 2014 decision remain valid, despite the recent ban.
Thursday’s decision is similar to another one taken in 2008, when the authorities banned rice export, citing the need to save rice for local consumption.
Earlier bans have been reversed following pressure from traders, who argue that bans open the door for illicit trading.
Egypt only consumes nearly 3.3 million tonnes of rice annually, reported Reuters. Its rice production in the 2014 season meanwhile stood at 4.3 million tonnes.
