Cairo – Mubasher: The spokesperson of the Egyptian Ministry of Supply and Internal Trading, Mamdouh Ramadan, on Tuesday said that Egypt’s strategic wheat reserves will be sufficient until the end of February 2018.
Strategic wheat reserves amount to 4.857 million tonnes and will suffice local need for 6.1 months, Ramadan told Reuters.
Egypt consumes about 9.6 million tonnes of wheat per year to produce subsidised bread, as it imports 5.58 million tonnes of wheat in fiscal year 2016/2017, up from 4.44 million tonnes in the prior fiscal year.
Last Wednesday, Egypt purchased 355,000 tonnes of wheat in a global tender; hence, it aims to import about 7 million tonnes of wheat in the current FY17/18, which started on 1 July.
Egypt, the world's largest wheat importer, consumes approximately 15 million tonnes of wheat per year, according to the Egyptian government.
