Egypt’s decision to ban rice exports will increase stock

Egyptian government’s recent decision to ban rice exports will contribute to increasing Egypt’s rice stock consistently, head of the rice division at the Federation of Egyptian Industries (FEI) Ragab Shehata said.

In statements to MENA, he asserted that rice is one of the country’s strategic commodities, of which the local market’s needs have to be fulfilled.

On Wednesday, Minister of Supply and Internal Trade Ali el Moselhi held a meeting with Shehata along with rice suppliers, during which they agreed to continue supplying rice at 6,100 Egyptian pounds per tonne, to be then sold to consumers at 6.50 pounds per kilo. Source: MENA