{"id":581659,"date":"2023-02-19T00:00:00","date_gmt":"2023-02-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/govt-lifts-price-cap-on-rice\/"},"modified":"2023-02-19T00:00:00","modified_gmt":"2023-02-19T00:00:00","slug":"govt-lifts-price-cap-on-rice","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/govt-lifts-price-cap-on-rice\/","title":{"rendered":"Gov\u2019t lifts price cap on rice"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Last night\u2019s talk shows:<\/span><span style=\"\"> Food prices and news of the release of six Egyptians <\/span><span style=\"font-weight:400;\">kidnapped in Libya got a lot of attention on the talk shows, while the aftermath of the Syria-Turkey earthquakes continued to get coverage.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It looks like the government has ended its price cap on rice a month early:<\/span><span style=\"\"> <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Rice-price-cap-directive-Feb23.jpeg\" style=\"\">A<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/2\/Rice-price-cap-directive-Feb23.jpeg\" style=\"\">decree<\/a><\/span><span style=\"\"> by <\/span><span>Prime M<\/span><span>inister Moustafa Madbouly signed last week has ended the government\u2019s rice price cap despite <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/15\/egypt-approves-usd-5-5-bn-green-ammonia-plant-91315\/\" style=\"\">the three-month extension<\/a><\/span><span>approved by ministers in mid-December. The lifting of the measure \u2014 which since September has capped rice prices at EGP 12-18 per kg \u2014 will allow producers to sell the staple food at higher prices and fuel further food inflation which is already <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2023\/02\/12\/food-prices-hit-record-high-on-january-devaluation-96498\/\" style=\"\">accelerating at a record rate<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What sort of prices are we looking at?<\/span><span style=\"\"> Ragab Shehata, the head of the Federation of <\/span><span>Egyptian Industries\u2019 rice division, expects big rice brands to <\/span><span style=\"font-weight:700\">raise prices to EGP 25 per kg<\/span><span>, he told Kelma Akhira last night (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=4X_Pmdk1jbY\" style=\"\">watch, runtime: 6:32<\/a><\/span><span>). The price per-ton of barley rice spiked <\/span><span>more than 7%<\/span><span> to a record high of EGP 15k, <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/bit.ly\/3EiJs04\" style=\"\">Al Mal<\/a><\/span><span>reported yesterday, citing sources in the FEI\u2019s rice division.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Why is the government lifting the cap? It didn\u2019t <\/span><span style=\"font-weight:700\">stabilize<\/span><span style=\"font-weight:700\"> the market or lower prices<\/span><span>, Assistant Supply Minister Ib<\/span><span>rahim <\/span><span>Ashmawy told Kelma Akhira (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=_x8lmMCL4zE\" style=\"\">watch, runtime: 13:04<\/a><\/span><span>). \u201cThis signals the need for other approaches [towards the crisis],\u201d he said, suggesting that this could involve increasing rice imports and reimposing the caps. The FEI\u2019s Shehata told El Hekaya on Friday (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=HHFVm7yR0hM\" style=\"\">watch, runtime: 3:50<\/a><\/span><span style=\"font-weight:400;\">) that \u201cthe government capped prices without taking into consideration that it doesn't have access to the raw material.\u201d Rice producers were not in favor of the set prices and withheld supply from the market, he explained. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Watch this space:<\/span><span style=\"\"> Rice will be offered on the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.press\/stories\/2022\/12\/13\/gold-could-be-coming-to-the-emx-in-1q-2023-91037\/\" style=\"\">Egyptian Mercantile Exchange<\/a><\/span><span style=\"\"> (EMX) by the <\/span><span style=\"font-weight:400;\">beginning of March, said Ashmawy, who heads the exchange. This would lead to an increase in supply, he said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The poultry crisis also got coverage<\/span><span style=\"\">, with Abdel Aziz Al Sayed, head of the Poultry Division at <\/span><span>the Cairo Chamber of Com<\/span><span>merce, telling El Hekaya that increased poultry imports would he<\/span><span>lp in narrowing the gap between supply and demand (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=RNdettwx5dU\" style=\"\">watch, runtime: 4:27<\/a><\/span><span style=\"font-weight:400;\">). <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The release of six Egyptians abducted and then illegally detained earlier this month in <\/span><span style=\"font-weight:700\">Libya also got coverage:<\/span><span> In an interview on Kelma Akhira, Khaled Okasha, general manager of the Egyptian Center for Strategic Studies, blamed the kidnapping on insecurity in the west of the country <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=O4bmYy4-XRU\" style=\"\">watch, runtime: 9:10<\/a><\/span><span>). \u201cThey are victims to [high levels] of insecurity in some parts of Libya\u2019s west,\u201d he said, urging Egyptians traveling to Libya for work to abide by the country\u2019s strict instructions on residing in the east of the country, which is under the control of Cairo-backed Khalifa Haftar\u2019s forces. <\/span><span>Their release also got attention from Al<\/span><span>a Mas\u2019ouleety (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=C5PM_ntEWIA\" style=\"\">watch, runtime: 17:46<\/a><\/span><span>) and Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=jwLD5OXtLiU\" style=\"\">watch, runtime: 0:35<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The earthquake in Syria + Turkey was still being talked about on the airwaves<\/span><span style=\"\"> as the death <\/span><span>toll from the disaster surpassed 46k. El Hekaya\u2019s Amr Adib accused Western nations of double standards<\/span><span> in their decisions to supply bns of USD and military equipment to Ukraine but refuse to provide proper relief to Syria (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=bEA2XBdbtew\" style=\"\">watch, runtime: 4:27<\/a><\/span><span>). The rising death toll of the deadly quake in Turkey and Syria also got a mention from Masa\u2019a DMC (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.youtube.com\/watch?v=Xn2Yx-C8TOk%5C\" style=\"\">watch, runtime: 2:18<\/a><\/span><span style=\"font-weight:400;\">).<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last night\u2019s talk shows: Food prices and news of the release of six Egyptians kidnapped in Libya got a lot of attention on the talk shows, while the aftermath of the Syria-Turkey earthquakes continued to get coverage. It looks like the government has ended its price cap on rice a month early: Adecree by Prime [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":581660,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7232],"tags":[317,104,6404,72,3729,182,106],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-581659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-last-nights-talk-shows","tag-commodities","tag-economy","tag-emx","tag-enterpriseam","tag-ibrahim-ashmawy","tag-inflation","tag-last-nights-talk-shows","wpautop","entry"],"acf":{"mongo_id":"cbf5d9e1-dd21-4211-a4cb-ee7a83c29db4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/rice-talkshows-1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[581645],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/2\/.adff1d6e-cb5d-4146-be5b-318da11a2780.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Gov\u2019t lifts price cap on rice - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/19\/govt-lifts-price-cap-on-rice\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t lifts price cap on rice\" \/>\n<meta property=\"og:description\" content=\"Last night\u2019s talk shows: Food prices and news of the release of six Egyptians kidnapped in Libya got a lot of attention on the talk shows, while the aftermath of the Syria-Turkey earthquakes continued to get coverage. 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