Egypt issues new regulations to cut rice prices

Updated 8/10/2023 9:11:00 AM
Egypt issues new regulations to cut rice prices

Arab Finance: Minister of Supply and Internal Trade Ali El-Mosehly has issued a decree on the new regulations aiming at cutting prices of basic commodities, mainly rice, in markets, according to the Official Gazette on August 9th.

The new regulations require traders and importers to provide the ministry with weekly updates regarding the quantities of imported and stored rice, in addition to its purchase and selling prices.

In related news, El-Mosehly said announced that Egypt’s strategic reserve of sugar is sufficient until March 1st, 2024, according to a statement.

He also directed sugar production companies to announce import prices of beets and sugarcanes to encourage farmers to import in the new harvest season

Related News