Egypt has decided to suspend the export of all kinds of rice out of the country with effect from the first of September, announced the minister of trade and industry, Mounir Fakhry Abdel Nour.
Abdel Nour’s decision to stop the export of all kinds of rice except broken rice, which was published Thursday in the official newspaper, does not apply to export licenses issued in accordance with the provisions of Ministerial Decree No. 776 for the year 2014, reports Saudi Arabia-based Aleqtisadiah.
Egypt halted the export of rice several times in the past, but re-allowed re-exports under pressure from the merchants.
The last time was last October when it allowed the export of rice, on the condition of supplying Egypt with one ton of white rice worth $279.72 for every ton of rice being exported, in addition to paying a fee of $280 for each ton being exported.
The average Egyptian rice grain competes mainly with American and Australian rice in global markets.
($1 = AED3.67, at the time of publishing)