Today, Friday, October 14, 2022, rice prices for wholesalers in Egypt recorded a condition of pricing contrast, with white rice prices stabilising “breaking 5% – breaking 3%” and barley rice prices declining by two types “high -pill and broad pill” for consumers in the local Egyptian market.
Consumers can buy rice today at pricing provided by Al-Fajr.
Barley
Today, the price of rice “wide pill” barley dropped to a record low of 9,300 pounds per tonne, or around 100 pounds.
And the prices of rice “high -pill” barley decreased to record the price of the ton 8,900 pounds, compared to its price yesterday 9,100 pounds, that is, by a decline in 200 pounds.
Rice, White
Municipal white rice pricing, “wide pill, fracture 3%,” remained stable, bringing the cost per tonne to 13,900 pounds.
The cost of municipal white rice with a “high-pill fracture 5%” was likewise established at 13,500 pounds per tonne.
the cost of rice to consumers
For the consumer, a kilo of rice cost 17 pounds.
Supply Commodities Authority and supply speculators’ rice prices
Rajab Shehata, head of the Rice Division of the Federation of Egyptian Industries, revealed that Egypt has produced 3. 6 million tons of white rice, while consumption ranged between 3 to 3. 5 million tons, but the problem in the markets is to rise in the raw material for feed, and there is a fear of turning Bar barley rice product to feed; Because it is the cheapest raw material during the current period.
Shehata stated during televised statements that 70% of the azar crop had been harvested; however, the Supply Commodities Authority only collected 45,000 tonnes as a result of farmers’ reluctance to supply rice to the commodity body and the disparity in price between the commodity body’s internal market and the external market.
The head of the Federation of Industries’ Rice Division noted that the market was extremely thirsty and that people started buying azar at any price. As a result, private sector speculators raised the price of barley rice, which caused the price of white azar to rise above the price set by the Ministry of Supply and internationally. The prices of rice futures on the Shikaou ‘Commercial Stock Exchange also fluctuated, at a rate of at least 5%.
The current price of rice on the Chicago Stock Exchange
In the early morning trading on the Chicago Commercial Stock Exchange, rice futures prices fluctuated. At the time this story was being written, the November contract was trading at 16,805 dollars per pound, up $ 0, 045, or 0. 27%.
The rabbis’ January 2023 contract saw a $ 0. 060 dip, falling to $ 17. 095.
Rice prices must fall by 200 pounds due to the ongoing harvest season.
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