New tenders to export Egyptian rice will not be held, as exports of the determined quantity for the current season came to an end, reported Al-Ahram newspaper quoting Advisor to the Minster of Trade and Industry El-Sayed Aboul Qomsan.
The decision aims to stabilize rice prices in the local market, Qomsan said, according to a report from Beltone Financial.
The 2009 law prohibiting the export of rice is still in place, he indicated, stipulating that quantities of rice to be exported have to be equivalent to those delivered to the General Authority for Supply and Commodities (GASC) to cover supplies for the ration card system.
Around 400,000 tons of rice were exported this season.
