As Egypt's rice harvest season reaches its peak, prices have shown a relative stability in the markets. This stability is attributed to the availability of the product and a balance between supply and demand. The prices vary depending on the type and quality of rice, as well as the place of sale. With high annual consumption rates driven by the ease of preparation and versatility of rice, it remains a crucial strategic crop for the country.
Rice is a staple food in Egypt, closely monitored by both consumers and traders. The current market situation shows that the prices of rice have decreased in recent days due to an increase in the supply of the new crop. According to recent data, the price of a ton of wide-grain rice is around 15.5 thousand pounds, down from 16 thousand pounds previously. Meanwhile, the price of a ton of fine-grain rice is approximately 13.5 thousand pounds, compared to 14.5 thousand pounds earlier.
Rجب شحاته, head of the Rice Section and a member of the Grain Chamber at the Egyptian Industries Federation, stated that rice prices are relatively stable in the current market. This stability comes after a recent decline of around 1000 pounds per ton in the past few days. He attributed the price drop to the surplus of rice in the markets, noting that fine-grain rice is currently more available, while wide-grain rice is expected to increase with the intensification of harvesting in the coming days.
Egypt's rice production is estimated to be between 6.5 and 7 million tons of rice grains, which translates to between 4.250 and 4.50 million tons of white rice. The local consumption stands at around 3.6 million tons per year. The head of the Rice Section expects that rice prices will continue to be stable in the coming days due to the increase in production.
Currently, the price of a ton of fine-grain rice is between 12 and 13 thousand pounds, while the price of a ton of wide-grain rice ranges from 15 to 16 thousand pounds. For white rice, the price of a ton of fine-grain rice is around 20 to 21 thousand pounds, and the price of a ton of wide-grain rice is between 24.5 and 25.5 thousand pounds.
This year's rice cultivation area has exceeded 2.5 million feddans, an increase of about 20% compared to 2.1 million feddans in the previous season. This rise is due to farmers' shift away from cultivating other crops. The increase in rice production is expected to contribute to meeting the local demand and potentially creating a surplus for export.
The Egyptian government and relevant authorities continue to monitor the rice market to ensure the stability of prices and the availability of the product. With the ongoing harvest season, the market is expected to remain stable, driven by the increased supply of rice. The sector is crucial for the country's food security, and the government is working to balance production and consumption.
Key points
- Egypt's rice prices are relatively stable due to increased supply and balanced supply and demand.
- The country's rice production is estimated to be between 6.5 and 7 million tons of rice grains.
- The price of a ton of wide-grain rice is around 15.5 thousand pounds, while fine-grain rice is approximately 13.5 thousand pounds.
