Rice prices dropped EGP 600 to EGP 3,900 per tonne due to the ban on rice exports currently in place, a Supply Ministry source tells Al Shorouk. The ban, in combination with efforts to curb smuggling, has increased rice supply in the market, driving down prices, according to the source. The government had decided earlier this month to keep the ban in place during the upcoming period, after having re-imposed it last year.
More from Enterprise
How correspondent banking works, and what the FinCEN clampdown on Banque Misr UAE means for business
As FinCEN proposes cutting Banque Misr’s UAE branches from USD…
Inside the financing of Egypt’s IPP boom
The contracts and the resources are proven, so the open…
EGX30 gained 2.79% in 3Q, but September gave back most of its July-August run, with mid-caps falling the hardest
Small- and mid-cap indices widened their lead over the benchmark…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…