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Egypt’s trade ministry slaps hefty tariffs on fish exports

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Egypt’s Trade Ministry has imposed a tariff on the export of fresh and frozen fish which is worth around $664 per ton and will last four months.

The decision comes two days after President Abdel Fattah el-Sisi said Egypt had halted fish exports. Sales to foreign markets surged following last year’s currency devaluation. Sisi did not say how long the suspension would last. But he’s promised Egyptians that measures would be put in place to help the market adjust. Egypt used to export 40,000 tons of fish a year but within the first three months of 2017, that figure jumped to 120,000 tons.

Most of Egypt’s fish exports head to Gulf states. Earlier this month, the government imposed a tariff on sugar exports.

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