Egypt purchases 1.75m tons of local wheat
Egypt has purchased 1.75 million tons of local wheat after the beginning of its harvesting season, according to the Ministry of Agriculture on Sunday. Egypt had harvested 1.5 million acres (630,000 hectares) of local wheat until now, Reuters quoted Abbas Al-Shennawi, head of the ministry’s services sector, as saying on Sunday.
During a press conference on Sunday, Egyptian Prime Minister Moustafa Madbouly said: “Egypt’s Wheat cultivation has expanded around 3.5 million acres yearly and increase of 250000 acres from 2021. It expected the output be of 10 million tons, as an increase of about 1 million tons.”
“Egypt had made 1.1 billion Egyptian pounds ($60 million) available for a prepayment to state grains buyer General Authority for Supply Commodities (GASC) and the Agricultural Bank of Egypt to acquire wheat from local farmers.” Egypt’s Finance Minister Mohamed Maait said last month.
Egypt, the world’s biggest wheat importers, is severely dependent on shipments from Ukraine and Russia. The government had been found India an alternative supplier. On Saturday, India banned wheat exports, after saying it was focused on record shipments this year. A scorching heat hits India and this wave reduced output and domestic prices rose was a skyrocket.