July 10, 2017 / 4:32 PM / a month ago

UPDATE 1-Egypt will continue export ban on rice during coming season

(Adds quote, statement details)

CAIRO, July 10 (Reuters) - Egypt will keep in place a ban on the export of rice during the coming harvest, the supply ministry said on Monday.

Egypt has intermittently banned the export of rice since 2008 in order to preserve stocks for the local market and to discourage growing of the crop to save water.

"The government is interested in securing the needs of local consumers and building strategic reserves of domestic rice," the supply ministry said in a statement.

The statement added that market forces would determine local prices for buying rice from farmers. (Reporting by Maha El Dahan, editing by David Evans and Susan Fenton)

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