As per General Authority for Supply Commodities, Egypt will accept the offer to purchase imported rice for its food subsidy program in the next tender. Due to increasing price of medium grain price, Egyptians are now planning to test the acceptability of imported long grain rice as this may help the government to allow exports of more expensive medium grain rice grown in Egypt.
Currently government buys medium grain rice for around $420 per ton & sells around $220 per ton for subsidy program domestically, compared to $900 per ton for exports. Egypt has a surplus of around 800,000-850,000 tons for rice for exports which is banned to help control prices and ensure supply for subsidy program. The supplies minister has indicated that resume of exports will help revive the country’s economy and prevent illegal exports.