After being a rice exporter, Egypt turned to be an importer to meet the people’s needs amid the monopoly practiced by merchants. The Ministry of Supply announced that it would offer a tender for rice importation to secure strategic storage.
“The platform stopped the price movement until the market stabilized, in light of the existence of crude manipulation under the illusions of supply and demand, in addition to the existence of a discrepancy in prices within the market,” Saeed Imbaby, CEO of the "iSagha" platform, said.
The Finance Ministry will issue its anticipated euro denominated Eurobonds on the Luxembourg stock exchange in three weeks.
The company offered 28,089,457 existing ordinary shares at a price of LE 22.60 per ordinary share.
Egyptian sundried tomatoes make a great product for Europe to import, especially Italy and countries that prefer the Mediterranean cuisine.