Egypt’s Govt Allocates EGP1.6 bln To Purchase Wheat

The Egyptian government allocated EGP 11 billion to buy 4.5 million tons of wheat from the farmers this year.

This decision came during the meeting convened yesterday by the Egyptian cabinet with the minister of agriculture and land reclamation and the minister of supply and internal trade. In the framework of the government’s plan to provide the main commodities for citizens, the meeting was convened to look into the preparations for the season of importing the domestic wheat, which is a pivotal strategic commodity. It also discussed the ways of improving the system of receiving the wheat from the farmers and storing it up in the silos.

The government is facing difficulties in importing the wheat due to the economic crisis and the currency devaluation, and the wheat is a vital commodity in Egypt.

In early March, the government said Egypt’s strategic stock of wheat have fallen to 2.207 million tons, enough to last 89 days, compared to 2.292 million in February.