Egypt raises the local wheat procurement price from LE 1500 to LE 1600 per wheat ardeb
Abou Saddam pointed out that Egypt currently grows only 50 percent of its consumption of wheat.
This move could potentially provide Egypt with a cost-effective alternative to Russian grain imports. Russia has been supplying an increasing share of Egypt's wheat since last year, but they recently refused a purchase deal below the unofficial minimum price for wheat procurement.
Egypt and France have the same visions in the importance of a ceasefire, sending aid, and launching a national dialogue between all components of the Sudanese people. He called for developing a road map in the future to address the crisis.
Egypt might increase its purchases of Russian wheat and subsequently re-export wheat and other grains to neighboring countries if a logistics distribution center is established in the Suez Canal Economic Zone.
Farmers are working with the government to cultivate all the area to be planted with 100% certified seeds to increase our production of wheat, he added in a statement on Saturday.
The International Cooperation Ministry released Q&As reviewing the efforts to enhance food security and the international partnerships concluded by the Ministry of International Cooperation over the past period.
The General Authority for Supply Commodities (GASC) said it had reached an agreement to purchase 360,000 tons of Russian and Romanian wheat through an international tender.
Indian Prime Minister Narendra Modi said Egypt and India are moving forward quickly to achieve the goal of boosting their trade exchange to $12 billion within five years, the Egyptian Cabinet said in a statement.
During laying the foundation stone for two new logistical and commercial areas in Kafr El-Sheikh Governorate, on an area of 22 acres with investments of approximately EGP 6 billion, he added that the domestic wheat supply from the local farmers has reached 3.630 million tons since the beginning of the season in mid-April 2023.
The ambassador stipulated that Egypt backs all efforts that would guarantee the flow of grain exports from all world countries to the global market.
President Abdel Fatah al-Sisi launched Sunday the wheat harvest season, and inaugurated a potato processing factory at East Owainat in the New Valley.
Hussein Abdul Rahman Abu Saddam, Head of the General Syndicate of Farmers, said in a statement that the authorities aim to purchase a total of 4 tons of wheat from the local farmers.
The government has started to buy the local wheat from the beginning of this April to the mid-August, with an additional cost to increase the price of one ardab (150 kilograms) by 74% from 865 EGP to 1,500 EGP, Maait added.
The organization failed to play an effective role during the global crisis in 2008 to secure its members needs.
Mohamed noted that this comes within the framework of President Abdel Fattah El-Sisi's interest in expanding the cultivation of strategic crops, especially wheat.
Speaking on the fringe of his participation at the inaugural of Cairo Food Summit in its first edition, Moselhi noted that cooking oil reserves are enough for 5.1 months.
The purchase was funded by the World Bank, the authority added, noting that the price was made at $317.50 per ton, including cost and freight, Al Arabiya net reported on Thursday.
The Minister affirmed Egypt’s keenness to secure wheat demands for its citizens.
The contracts include the approval of “Egypt’s conditions” regarding the requirements for “moisture contents,” the statement added.