Egypt’s strategic rice reserves sufficient until 15 October

Egypt has strategic rice reserves to last until 15 October and 4.5 months-worth of wheat reserves, Supply Minister Ali El Moselhy said, according to a MENA report picked up by Reuters’ Arabic service. Rice prices will also be lowered soon, the statement noted without giving more details. El Moselhy had previously said that Egypt’s reserves of rice are sufficient until December. The government announced in April that it will no longer settle for a three months-worth “strategic” stock of commodities, and raised the floor to between five and six months.