Egypt plans to buy 3.5 million tons of wheat on the domestic market
The Egyptian government plans to buy about 3.5 million tons of wheat of its own production in state stocks this year, which is 8% lower than last year’s level (3.8 million tons).
Local authorities have previously stimulated agricultural producers to more actively sell their own raw materials. Thus, in November, purchase prices for grain were increased 1500 ($31.8) to 1600 ($33.9) Egyptian pounds.
Recall that 3 million feddans (1.26 million hectares) were sown with wheat in Egypt this year. At the same time, imports of this crop into the country in 2023 increased by 14.5% compared to last year’s level – up to 11 million tons.
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