Egypt’s Wheat Reserves Surge 35%; Q1/2012

Ali Sharaf El Din,  Chairman of the Chambers of Cereal & Its Products of the Federation of Egyptian Industries (FEI), has announced that Egypt’s wheat reserves surged 35% during the Q1 of 2012 reaching  2.7 million tons. Noting that the wheat reserves for the Q1 of 2011 had reached 2 million tons.  Sharaf El Din assured that these amounts ensure the domestic consumption supplies for 5 months.

“This rise comes amid the precautionary measures taken by the government earlier this year. “ said Sharaf El Din

“The government has taken such measures for increasing the wheat reserves so as to face any possible problems in transportation and raise the nutrition security level in Egypt, therefore.”

Worth mentioning that the CAMPAS had announced earlier this week a relative increase in Egypt’s wheat strategic reserves by 53.8% during the fiscal year 2010/2011.