Ragab Shehata, head of the Rice Division at the Chamber of Cereal Industries in the Federation of Egyptian Industries (FEI), said that the price of rice and sugar in the local market will be declining starting mid-April.
He explained in a statement to the Middle East News Agency that the decision made by the Minister of Supply and Internal Trading Aly Meselhi to compel importers and distributors to write the factory sale price on the packages of products as well as to ban trading goods that have no prices stamped on them starting mid-April. This will consequently eliminate random pricing and stocking goods, eventually benefiting consumers, according to Meselhi.
He pointed out that those who violate the new decision will be subject to punishment, where the ministry will confiscate goods. He added that distributors will get rid of the amounts of rice and sugar that are not priced to avoid their confiscation.