EGYPTIAN MINISTRY INDUSTRY STOP EXPORTING RICE FROM THE FIRST SEPTEMBER

Cairo, 14 Dhulqa’dah 1436/29 August 2015 (MINA) –The Egyptian Ministry of Industry and Trade has decided to stop exporting all kinds of rice starting from the first of September.

Only the export of broken rice will be allowed in accordance with Ministerial Resolution 601 of 2009, as amended.

The ministry said that this decision does not apply to export licenses issued in accordance with Ministerial Decree 756 of 2014.

This decision came before completing the validation of Ministerial Decree 776 of 2014, which approved the export of milled rice until the end of August of this year, or until reaching the permitted export quantity of one million tonnes, according to Borsa newspaper, Middle East Monitor (MEMO) quoted by Mi’raj Islamic News Agency (MINA) as reporting.

The Minister of Industry and Trade Mounir Fakhri Abd El-Nour said, that this decision aimed primarily to meet the needs of the local Egyptian market  and the General Authority for Supply Commodities.

He added that the data issued by the Ministry of Agriculture about the rice crop for the new season 2015-2016 confirmed that the actual cultivated area of rice this year is around 1.27 million acres, the expected crop from which is estimated at about 4.4 million tonnes of barley rice, of which about 2.7 million tonnes of white rice is produced.

Domestic consumption amounted to 3.6 million tonnes of white rice last year. The gap will be covered through stocks from the 2014-2015 season, which amounted to 750,000 tonnes of rice. (T/Imt/R03)

Mi’raj Islamic News Agency (MINA)