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.
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