​Egypt’s strategic rice reserves sufficient for six months: Supply ministry

The delivery of the 250,000 tons is anticipated to occur within six weeks from the date of contract signing.

Upon its arrival, the new shipment will be made available at competitive prices with the intention of stabilizing the market, the statement added.

This procurement is in line with President Abdel-Fattah El-Sisi's directives to bolster strategic reserves of vital commodities. 

Last week, Prime Minister Mostafa Madbouly announced a government initiative to reduce the prices of a number of basic commodities by 15 to 25 percent.

These commodities include beans, dairy products, white cheese, mixed cooking oil, pasta, sugar, lentils, poultry products, eggs, and rice.

Minister of Trade and Industry Ahmed Samir said the government seeks to facilitate procedures for releasing imported goods from ports in the near future.