Minister of Trade and Industry Amr Nassar extendeded on Tuesday a tariff previously imposed on the exports of fresh and frozen fish, according to a press statement.
In April 2017, the ministry had imposed EGP 12,000 per tonne tariff following a hike in fish exports after the currency floatation in November 2016, which led to a drop in supply and price hikes in the local market.
Acting Head of the Trade Agreements and Foreign Trade Sector Amany Al-Wasl explained that the decision aims to fulfil the domestic market needs and increase the supply to lower prices.
However, the tariff does not apply to processed fish, such as smoked or canned fish, or fish exports destined to the European Union countries due to binding agreements.
Egypt produces around 1.5m tonnes of fish annually, and consumes about 1.8m tonnes, with a supply gap of around 0.3m tonnes.