CAIRO: Egypt has procured about 3 million tonnes of wheat from local farmers since the harvest began 37 days ago, at a cost of 11.8 billion Egyptian pounds ($660 million), the Ministry of Supply said on Tuesday.
The ministry quoted Supply Minister Ali Moselhi as saying that about 3.5 million tonnes of wheat is expected to be bought from local farmers this year.
At the same time last year 2.4 mln tonnes of wheat had been procured, the ministry said, adding that the faster progress this year is because of weather conditions.
Egypt, the world’s largest importer of wheat, generally buys wheat from its own farmers from mid-April through July.
The most populous country in the Arab World expects to buy an additional 7 million tonnes of the grain from abroad during the 2018-19 financial year that begins in July.
It uses the wheat to supply a sprawling bread subsidy system relied on by tens of millions of people.
Source: Brecorder
