Rice Prices Rise Despite New Harvest
Although production of rice in Egypt is expected to increase during the 2026-2027 season to 8 million tons, representing a growth of approximately 6.7% compared to the previous season, the rice market has experienced a noticeable rise in prices. The price of a non-polished ton increased by about 1,000 Egyptian pounds within a week, reaching 14,000 pounds, while the price of fine white rice rose to 23,000 pounds per ton. The main reason for this increase is that some farmers and intermediaries are withholding portions of the harvest in anticipation of higher prices, along with increased demand from major companies. Agricultural experts also pointed out that crop damage and irregular water supplies are reducing overall yield, but the free rice market continues to be influenced by supply and demand factors, as well as commercial storage, with prices remaining high despite initiatives aimed at reducing the cost of goods.
Notice: This Is an AI-Generated Summary
Comments (0)