Egypt raises local wheat procurement price for new season

The Egyptian Cabinet increased the reference local wheat procurement price from EGP 1,500 to EGP 1,600 per ardeb (150 kg) for the new harvest season to incentivize farmers to supply to the state, according to a statement on Thursday.

The government purchased 3.8 million tons of wheat from the local farmers during this year’s harvest season, which started on 1 April and ended on 31 August.

In April 2023, the government raised the price for wheat procurement from local farmers for the last harvest season to EGP 1,500 per ardeb from EGP 1,000 per ardeb.

Egypt consumes up to 18 million tons of wheat annually.

The country is expected to import 12 million tons of wheat during the current FY 2023/24, which started on 1 July, according to a report by the Food and Agriculture Organization released in July.

Tags: wheat, Egypt