Egypt has raised the export duty on rice from 200 Egyptian pounds ($36.56) a ton to 300 pounds ($54.84), the Middle East News Agency (MENA) said. ($1 = 5.47)

Egypt introduced the duty last September to ensure supplies of rice to the local market and hold down domestic prices.

Trade and industry minister Rachid Mohamed Rachid had increased the duty in response to higher world prices, MENA said.

Egypt produces about 4 million tons of rice a year and consumes about 3.2 million ton. It exports its own short-grain rice, mainly to other Arab countries, and imports some long-grain rice from Asia.

The retail price of rice has risen by up to 30% in recent months, along with sharp rises in the prices of other main foodstuffs.

The government is trying to persuade rice dealers to impose their own voluntary restrictions on exports but the offered prices abroad are too high to resist, said an expert familiar with the rice trade.

Elaph, London, March 8, 2008