Egypt considers setting up large-scale stores for strategic commodities

Egypt is considering establishing large-scale stores for strategic reserves of basic commodities, including wheat, in seven of its governorates, its supply minister Ali Moselhy said on Saturday.
These stores will be at a cost of up to 21 billion Egyptian pounds ($1.3 bln), according to Moselhy.
Such stores could increase Egypt’s reserves of commodities such as meat, poultry, and wheat to cover 8-9 months, from current levels of 4-6 months, state news agency MENA quoted the Egyptian minister as saying.
The ministry was working to meet instructions from President Abdel Fattah al-Sisi to boost strategic reserves, Moselhy added.
Following the outbreak of the novel coronavirus pandemic, Sisi called for Egypt – the world’s biggest wheat importer – to expand its reserves. This led Moselhy to announce the unusual step of importing wheat during the local harvest.