Egypt plans to import 6 million tonnes of wheat in the fiscal year 2018/19 (July 18 - June 19) in order to close the supply gap between production and consumption. Trade Minister Ali Meselhy told reporters yesterday. In the current fiscal year 2017/18, more than 7 million tonnes of wheat have been imported so far. The wheat is needed in particular for the production of bread for the poor feed.
Yesterday also the price was announced, to which the Egyptian state buys locally produced wheat. It is between 570 - 600 Egyptian pounds per Ardeb (150 kg). The price seems to be of little interest to farmers and could encourage them to grow other more profitable crops, according to Hussein Abou Saddam, CEO of the Farmers Syndicate.
The basis for the price paid for locally produced wheat is the price that Egypt paid on average for foreign wheat.
