Monday, November 2, 2009

Egypt rice

"The amendments were made to regulate a market in light of the existence of large rice stocks still available from the last harvest -- around 500,000 tonnes -- in addition to this year's crop. The government hopes the new regulations will help push up prices for farmers by LE800 and LE1,200 per tonne, while the increase in the price to the consumer is expected to be minimal.

The decision comes after much debate over issues pertaining to rice exports, the securing of supply for local demand -- whether for Egyptian consumers or for the national subsidy programme -- and the cost versus selling price to farmers." (Thanks Marcy)

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