Egypt buys 4.2m tons of local wheat – minister

Egypt’s Minister of Supply and Internal Trade Ali Moselhy said on Wednesday that the country has purchased 4.2 million tons of local wheat, which 30 percent below its initial target.

Egypt was aiming to collect 6 million tons of wheat this season, in light of the scarcity of global wheat supplies and the high prices due to the Russian-Ukrainian war.

The country’s initial wheat procurement price at 1,000 Egyptian pounds ($52.08) per yard (150 kilograms) for the 2023 local wheat procurement season, according to Egyptian cabinet’s statement.

Moselhy added if the farmers do not deliver the quantities of wheat set by the government at 12 yards per feddan, it is considered a supply violation, and violators will be punished by calculating twice the value currently established for the yards.

The state provided great facilities to farmers this year by expanding the supply points, which reach 450 points and farmers’ dues are paid within 48 hours of the supply, the minister continued.

Noteworthy, Egypt’s production of wheat reached about 10 million tons this season, with a self-sufficiency rate of 62 percent.