Egypt’s wheat reserve sufficient for nearly seven months

Published Jul 22, 2024

Tridge summary

Egypt has a wheat reserve that can last for 6.9 months, with some of the wheat sourced locally and some recently purchased from Bulgaria and Russia. The government is working to increase this strategic reserve to ensure the availability of subsidized bread for six months. In a significant move, the government has increased the subsidized price of traditional flatbread from 0.125 to 0.2 Egyptian pounds per loaf to offset the strain on the public budget.

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Original content

Egypt’s Minister of supply and Internal Trade, Sherif Farouk, said, the country’s reserve of wheat is enough for 6.9 months. Farouk said that, this reserve has been secured via the procurement of wheat from local farmers, and the ministry’s recent procurement of 770,000 tonnes of wheat from Bulgaria and Russia, the report said. He stressed the government’s keenness to continue promoting the strategic reserve of wheat, allocated for producing subsidised bread for six months. The Egyptian government has quadrupled the subsidised price for the traditional flatbread to 0.2 Egyptian pounds (about 0.0041 U.S. dollars) nationwide, since Jun 1, the first such move in three decades, to alleviate the heavily strained public budget. For years, nearly 70 ...

Source: UkrAgroConsult