Cairo – The government of Egypt government on Thursday in Cairo announced that it would ban rice exports again with effect from Sept. 1. to satisfy domestic consumption.
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Ministry of Trade and Industry said Egypt is expected to produce 2.7 million tons of white rice in the 2015-2016 seasons while its annual consumption is estimated at 3.6 million tones.
The ministry said in a statement that 750,000-tone gap would be filled by stocks.
It said any export licenses granted according to the 2014 allowance could still be used.
Meanwhile, traders have argued the tariff imposed made exports non-profitable. (Reuters/NAN)