Rice prices jump 1000 pounds in a week
Rice prices in the Egyptian market have increased significantly over the past week, with the price of a ton of non-parboiled long-grain rice jumping by approximately 1,000 Egyptian pounds to reach 14,000 pounds. Meanwhile, the price of white long-grain rice has risen to 23,000 pounds per ton. This surge is due to some farmers and middlemen holding back portions of the crop in anticipation of higher prices and increased demand from major companies. According to experts, the price increase is attributed to a shortage of harvest yields caused by agricultural damages and irrigation challenges, even though the harvest rate has reached about 70%. While the Ministry of Supply has announced the release of packaged rice at a price of 25 pounds per kilogram as part of a government initiative, this does not reflect the free market prices, which continue to rise.
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