Egypt: Farmers Syndicate denies farmers or traders withholding rice from markets this year

Published Nov 13, 2024

Tridge summary

Egypt's rice production for this season has surpassed local demand, with over 3.5 million tons produced, while the local market's requirement is only around 1.2 million tons. This surplus has led to the stabilization of rice and barley prices, with a ton of fine-grain barley rice priced at no more than 14 thousand pounds, and broad-grain barley rice at no more than 16 thousand pounds. The General Secretary of the Farmers Syndicate, Hussein Abdel Rahman Abu Saddam, has refuted claims of farmers or traders withholding rice, stating that prices are expected to remain stable throughout the year, offering a satisfactory profit margin for farmers. He attributed the price stabilization to the surplus production and dismissed suggestions of farmers refusing to sell as unfounded and driven by personal interests.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Hussein Abdel Rahman Abu Saddam, an agricultural expert and the General Secretary of the Farmers Syndicate, said that Egypt's rice production this season exceeds local needs and that spreading news about farmers or traders withholding rice is false news that does not represent reality, noting that the rice cultivation areas this season exceed one and a half million acres. Abdel Rahman added that Egypt's rice production this season amounts to 3.5 million tons of white rice, while the local market does not need more than one million and 200 thousand tons, which led to the stability of barley and white rice prices; as the price of a ton of fine-grain barley rice did not exceed 14 thousand pounds, and the price of broad-grain barley rice did not exceed 16 thousand pounds. Abu Saddam indicated that he expects rice prices to stabilize throughout the year, and that talk about farmers refusing to sell is baseless; as rice prices currently have a ...
Source: Almalnews

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