Egypt kicks off 2024 wheat supply season to procure 3.5 mln tons

Country: Egypt
Egypt kicks off 2024 wheat supply season to procure 3.5 mln tons
01 May 2024

Governorates across Egypt have begun receiving local wheat from farmers for the 2024 wheat supply season, with a target of collecting 3.5 million tons. Silos and warehouses are open to accommodate the large quantities, with the state purchasing wheat from farmers at prices ranging from EGP 1,900 to EGP 2,000 based on purity level. Although procurement is not mandatory this year, strict measures on wheat usage and transportation remain in place, including bans on transporting wheat without permits and using it in manufacturing fodder or fish farms. Private sector usage of local wheat without permits is also prohibited, necessitating continued reliance on imported wheat for production. Egypt, a major wheat importer, faces supply chain disruptions due to the Russia-Ukraine war and currency shortages, prompting efforts to incentivize local wheat production. The government increased the procurement price by 25% and previously made local wheat supply obligatory in response to the Ukraine war, yielding 4.2 million tons in 2022 and 3.8 million tons in 2023.

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