Egypt has wheat storage of 6 months as imports from Russia, Ukraine becomes difficult
The Egyptian government has storage of strategic commodities that is sufficient for six months, Cabinet spokesperson Nader Saad told Hadith Al-Qahira on Sunday.
The government saturates the market with these food commodities to prevent any price hikes, Saad said, adding that the bigger demand on food during the holy month of Ramadan is put into consideration.
Although importing wheat from Russia and Ukraine is difficult at this time, it does not impact the supply of other commodities from other countries, Saad continued.
He said that the Ministry of Supply will hold food markets during Ramadan, even offering discounts on certain foods.
Egypt is the world’s biggest importer of wheat, and which mostly came from Russia and Ukraine. Bread is a staple at Egyptian tables, with bread a main part of most meals.
The country has subsidized many foods, including bread, since the 1950s. In recent years, it has embarked on economic reforms that entailed the rationalization and minimization of subsidies.
Read also
Romania wants to become one of the owners of the Moldovan port of Giurgiuleşti
Price of a ton of Ukrainian agricultural exports increased 1.4 times
Spring sowing rates in the US are above average
Showcase Your Business Among the key Market Makers at BLACK SEA GRAIN.KYIV!
Crude palm oil to become cheaper than soybean oil again this month – analysts
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon