Wheat prices decline globally; Egypt's Ministry of Supply continues to receive the local crop

Published 2022년 5월 31일

Tridge summary

Global wheat prices have dropped by 2.22%, with the price of the bushel recording 1131 cents due to factors such as the Russian-Ukrainian crisis, inflation, and the Federal Reserve's decision to raise interest rates. The article also covers the ongoing confusion and instability in grain markets, as well as the efforts of the Ministry of Supply and Internal Trade to ensure wheat supply and combat fraud. This includes strict regulations and the formation of committees to monitor wheat planting, harvesting, and supply, with farmers required to supply a specified quantity or face penalties. Additionally, farmers are being incentivized to supply double the quoted amount.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Global wheat prices fell by 2.22% during trading today, Tuesday, May 31, and the price of (the bushel), which is a standard equivalent of about 27 kilograms, recorded 1131 cents, after a previous close at 1157 cents.The grain markets in general are witnessing a state of confusion and instability. , due to the continuation of the Russian-Ukrainian crisis, the increase in inflation, the Federal Reserve’s decision to raise the interest rate, and the fear of shortage of supplies. It should be noted that the Ministry of Supply and Internal Trade confirmed the receipt of about 3.3 million tons of local wheat from farmers, and the continuation of the supply season until next August, from During the 450 supply points, and that farmers’ dues are paid within a maximum of 48 hours after supplying the crop. Ministerial Resolution No. 76 of 2022 was also issued, stipulating that farmers who do not comply with the decision to supply and specified by a ministerial decision also amount to 12 ...

Source: Akhbarelyom