Egypt anticipates record rice yield amid falling prices
The rice harvesting season has been launched in Egypt amid expectations of a significant increase in cultivated areas and production compared to last year. Cultivated areas have risen by approximately 20%, reaching around 2.5 million feddans, with anticipated production amountsing to 8.7 million tons of paddy rice and 5.25 million tons of white rice, the highest in recent years. Local rice prices have decreased by up to 13.7% with the arrival of the new crop, while Egypt’s rice exports have increased to $28.7 million in the first four months of the year, supported by a reduction in export fees to $120 per ton. This reflects a growing supply and expectations of higher production, with ongoing export demand playing a role in absorbing the increase in domestic output.
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