Egypt sets ceiling price for imported wheat

Egypt has set the ceiling price for future wheat purchases at $240 per ton, an unnamed government official told Asharq Business.

The official added that Egypt currently does not need to purchase new batches of imported wheat given the increase in global prices.

The country’s strategic wheat stocks allow it to meet demand for 5.2 months.

In the first nine months of 2024, Egypt imported 10.8 million tons of wheat, which is a third more than in the same period last year (8.3 million tons).

Recall that in early October, Egypt’s State Food Procurement Agency (GASC) agreed a deal for the direct purchase of 3.12 million tons of wheat.

Tags: prices, wheat, restrictions, Egypt