Cairo – Mubasher: The Egyptian government has bought 2.89 million tonnes of wheat from local farmers since the beginning of supply season, said the Ministry of Agriculture in a press release.
Wheat price is increasing globally by EGP 900 to EGP 1900 per ardeb, while hitting EGP 2,800 per ardeb in the local market.
In March 2016, the government agreed on purchasing the ardeb of wheat at EGP 420 during the current season.
Moreover, the Minister of Supply announced allocating EGP 10 billion for buying local wheat from farmers and traders, clarifying that 4 million tonnes of wheat are to be bought this season.
The season of buying wheat from farmers begins in mid-April and ends by the last days of June.
Egypt is one of the major importers of wheat all over the world. It needs around 10 million tonnes to cover its domestic consumption.
