AreaEgypt

Commodity GroupRice

CommodityAll

Date23/08/2022

Policy CategoryProduction

Policy InstrumentGovernment procurement, stock-holding policy, input support

DescriptionIssued a resolution setting a target to purchase 1.5 million tonnes of paddy from the 2022 harvest between 25 August and 15 December 2022. To achieve this aim, it would offer between EGP 6 600 and EGP 6 850 (USD 335 to USD 348) per tonne it purchased from local farmers, who would be required to sell 1 tonne of paddy per feddan (0.42 ha) they cultivated, or the equivalent of 25 percent of their harvest, to state designated entities. Failure to sell these quantities would result in farmer cultivation permits for the 2023 season being revoked and suspension of government subsidies on fertilizers and pesticides for one year.

NotesExchange rate as of 15 October 2022.