The Egyptian government’s decision to suspend the mandatory price of rice has raised many questions about the price of this strategic commodity, especially before the month of Ramadan, during which consumption by Egyptian families is on the rise.
Magdy El-Waili, a member of the Rice Division of the Grain Chamber of the Federation of Egyptian Industries, said supply and demand mechanisms will drive the markets, pointing out what will determine the price of rice in the markets during the coming period is supply and demand, especially after how the government stopped setting a mandatory price at a strategic time.
In statements to RT, he indicated that the state held a tender for the purchase of Indian rice in order to support its strategic rice reserves. He caters to the needs of cardholders, praising the measure, which would ease the pressure on the market and leave the free market as a way to provide citizens with goods.
He emphasized that a citizen’s purchasing desire determines the prices of goods, pointing out that the consumer asks about the price before buying, which is the first factor that determines the buying process.
Majdi Al Waili explained that the culture of consumption must be changed, noting that some products are overpriced just because of the name of the product; Pointing out that some are moving away from the so-called “washed rice”, pointing out that all modern machines work to produce washed rice; But it’s not as bad as some people think.
He added that the citizen must decide their needs and their ability to shop.
He pointed out that strategic commodities, including rice, depend on supply and demand policies. And the role of the state in ensuring the safety of watches, so that it has an advantage in controlling the markets.
Magdy El-Wailly has proposed to the state to grant land belonging to the Ministry of Agriculture, on which 300,000 acres of rice and 300,000 acres of wheat are cultivated. In favor of the Ministry of Agriculture, and the production of these lands benefits the strategic reserves of necessity; The order is evaluated annually, which will have a significant positive impact on the delivery of goods.
Source: RT
