egypt rice exportAs per local reports available the government of Egypt has allowed for milled rice exports for the next six months as quoted by the Trade and Industry Ministry. As the Minister informed that the exporters have to pay an export fee of LE 2,000 (around $255) per every ton of rice exported. It was also indicated that that the exporters need to pay the export fees in a foreign currency that can be transferable via Egyptian banks and accredited by the Central Bank.

In this regard, the Ministry is reportedly seeking a weekly report from the Egyptian Customs Authority regarding the volume of exports as well as whether the exporters are adhering to the rules. Further, the Minister noted that the Cabinet has decided to open the rice export market temporarily due to a surplus expected from the current crop. Moreover, these new measures will ensure equitability for peasants and will increase the country’s reserve of foreign currencies.

Indian Queen Basmati Rice Ad.
Indian Queen Basmati Rice

Furthermore, it has been indicated that in August this year, the government decided to reinstate the ban on rice exports, which was removed early this year, from September 1, 2015, as consumption was expected to surpass production. But, later reversed the decision and allowed for the export of about one million tons. Further, the government is expecting 2015-16 rice production (milled basis) at around 2.7 million tons which is a surplus of around 750,000 tons from   the last year. It is estimating a domestic consumption is at around 3.6 million tons. In this context the Egyptian government has banned rice exports several times since 2008 depending on the fluctuations in the domestic demand.