Egypt's annual rice consumption is generally about 3.3 million tonnes. The stockpiling has pushed up the price the government pays for rice by about 50 percent in recent months. Local consumption amounts to around 4 million tons of white rice a year, of which around 1.1 million tons are used for its subsidized rice program.

According to a handout issued by the ministry of finance, he said, he was really impressed by the economic progress made by Pakistan. He said Egyptian investors were looking forward to joint ventures in trading and investment with their Pakistani counterparts in order to boost bilateral cooperation between the two countries.

Rice can be produced under a wide spectrum of locations and climates, but, geographically, Asia is the hub of 90 percent of world production.

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