Egypt is scaling back wheat purchases from local producers without reaching the target level

Egypt has begun closing some local wheat collection points ahead of schedule, signaling that the harvest is drawing to a close and procurement volumes are not reaching the government's target, according to a document from the Ministry of Supply reviewed by Reuters. The shortage occurs at a time when Egypt, often the world's largest wheat importer, seeks to ensure accessible supplies for its extensive bread subsidy program that provides food for nearly 70 million people, against a backdrop of high inflation and ongoing economic tension. The government intended to purchase between 4 and 5 million metric tons of wheat from the local harvest, which it estimated at approximately 10 million tons. The season, which began in mid-April, will officially run until mid-August. However, as of Saturday, June 28, just over 3.9 million tons had been collected, according to a second separate official document reviewed by Reuters. According to the first document, in recent days the Ministry of ...