Egypt lowers wheat import target by 17% YoY in 2024
The Egyptian government has lowered its target for importing wheat from abroad this year by 17% year on year (YoY) to 5 million tons from its previous target of 6 million tons, Minister of Supply and Internal Trade Ali El-Moselhy told Asharq Business.
The government’s decision is backed by projections of a rise in domestic supplies, the minister noted.
One reason for lowering the wheat import target is raising the local supply target for the current season to 3.7 million tons from 3.5 million tons, Moselhy stressed.
The minister ascribed the rise in local wheat supplies to the elevated price of crop this year.
“So far, we have collected 3.4 million tons of domestic wheat, and we hope to achieve the new target,” Moselhy pointed out.
Read also
Markets no longer expect the Strait of Hormuz to open soon
Barley prices in Ukraine remain under pressure from declining export demand
Russian agriculture official dismissed amid mass livestock culling in Siberia
Invest in the Best: What Attracts Investors in Agri Today
Turkey purchased 12 thsd tons of unrefined sunflower oil in a tender
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon