Egypt to ban rice export starting September - Trade Ministry official

Thursday 27-08-2015 11:27 AM
Egypt to ban rice export starting September - Trade Ministry official

File photo of farmers planting rice - Reuters

By

CAIRO, Aug 27 (Aswat Masriya) - Egypt's ministry of trade and industry will ban the export of all types of rice starting September 1, a ministry official said on Thursday.

The ministry is yet to decide on the duration of the ban, said Sayed Abu Qomsan, a deputy for the minister.

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.

facebook comments