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Egypt says wheat reserves sufficient for 4.2 months

Egypt's president Abdel Fattah Al Sisi checks wheat plants at Sharq El Owainat Reuters/Egyptian Presidency handout
Egypt's president Abdel Fattah Al Sisi checks wheat plants at Sharq El Owainat

Egypt’s strategic wheat reserves are sufficient for 4.2 months, oil for 5.3 months, and sugar for 5.4 months, said minister of supply and internal trade Ali Al-Moselhi.

He noted that about 100 tonnes of sugar had been produced from the cane crop so far and that preparations are under way to receive the beet crop in mid-March, the UAE’s state-owned Wam news agency reported.

The remarks came after the minister inspected the West Port Said Silos project, which is located on an area of 15,000 square metres and has a storage capacity of 100,000 tonnes.

Al-Moselhi said Egypt imports six million tonnes of wheat annually through its ports, explaining that no silo has been built in the ports since 1984.

A cabinet statement said earlier this month that the country had planted 3 million fedan (3.1 million acres) worth of wheat since November 2023, an increase of almost half a million acres, Egypt Today reported.

In November 2023, the government approved the decision to raise the local wheat procurement price to EGP1,600 ($51.85) from EGP1,500.

The price increase was aimed to encourage Egyptian farmers and motivate them to grow and supply this crop in the upcoming harvest season.

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