Skip to content Skip to Search
Skip navigation

Egypt says wheat reserves sufficient for 4.2 months

By Pramod Kumar
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.

Latest articles

Sainsbury's has the second-largest share of the UK grocery market, at 15 percent, behind Tesco at 28 percent

Qatar to reduce stake in UK supermarket Sainsbury’s

Qatar’s sovereign wealth fund is selling part of its 15 percent stake in the British supermarket Sainsbury’s as the fund pushes ahead with expansion in the United States and Asia, particularly China and India. Qatar Investment Authority (QIA), the biggest shareholder in Sainsbury’s, is selling £306 million ($399 million) worth of shares in the retailer, […]

Shoppers in Kuwait's Avenues Mall – the IMF says the country needs to encourage private sector employment

Kuwait needs to push reforms for economic growth, says IMF

Kuwait must accelerate the introduction of fiscal and structural reforms that are needed to increase private sector-led growth and diversify its economy away from hydrocarbons, the International Monetary Fund said on Friday. Kuwait’s economy will contract by 3.2 percent this year because of an Opec+ oil production cut, but will grow by 2.8 percent in 2025 […]

Thani Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates, (UAE) speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 15, 2021. REUTERS/Brendan McDermid Dr Thani bin Ahmed Al Zeyoudi, the UAE’s minister of state for foreign trade, said 'Malaysia offers substantial opportunity for our exporters, industrialists and business leaders' UAE Malaysia Cepa

UAE and Malaysia sign Cepa to increase bilateral trade

The UAE and Malaysia have signed a free trade deal, bringing the number of deals the Gulf state has agreed with foreign governments to 12. The comprehensive economic partnership agreement (Cepa) will seek to eliminate or reduce tariffs, lower trade barriers, increase private sector collaboration and create new investment opportunities, the two countries said in a […]

Modern buildings in the city center of Riyadh, Saudi Arabia

Riyadh leads Saudi Arabia’s hot property market

Strong population and employment growth in Riyadh is driving a surge in real estate transactions as new properties cannot come on the market fast enough. A dramatic rise in the number of deals in the 12 months to the end of June was also visible in Jeddah and Dammam, according to a report this week […]