Egypt ends compulsory pricing of rice at markets

CAIRO – 19 February 2023: The Egyptian government ended the compulsory pricing of white rice, one month before the end of the deadline, amid increasing prices of basic commodities.

 

It is worth noting that the Cabinet set rice prices of rice in the market not to exceed 18 EGP per kilo of packaged fine white rice, and not to exceed 15 EGP for unpackaged rice. The prices were set for three months.

 

After being a rice exporter, Egypt turned to be an importer to meet the people’s needs amid the monopoly practiced by merchants. The Ministry of Supply announced that it would offer a tender for rice importation to secure strategic storage.

 

The Central Agency for Public Mobilization and Statistics (CAPMAS) declared in 2021 that Egypt's production of rice amounted to 4.8 million tons per annum, and that constitutes 79 percent of its total consumption (on and off ration cards). The average share per capita is now 39 kilograms per annum.

 

That is less than the figures of 2020, where CAPMAS indicated that self-sufficiency of rice reached 98.3 percent, with an average share per capita hitting 29.6 kg compared to 26.7 kg in 2019, with an increase of 10.9 percent. Normally, the rice harvest season begins in July.