Trade and Industry Minister Tareq Qabil has officially allowed the export of hulled rice for the next six months, imposing export fees worth LE2,000 per ton.
The minister said the fees must be paid in foreign currency that can be transferrable via banks operating in Egypt and accredited by its central bank.
According to the decision, the Egyptian Customs Authority is required to notify the ministry on a weekly basis that the exported shipments are complying with the new rules.
Qabil said the decision was made after meeting with the Cabinet. It was determined that the country needed to open the door for exports within the next six months, tapping into the current rice crop's surplus. The minister said the new measure will “ensure equitability for peasants and will increase the country’s reserve of foreign currencies”.
