Egypt finished its year's intervention by locally produced wheat already next Wednesday, so earlier than usual in other years. Exceeded the target amount of 4 million tons for weeks and last even less and less was tendered by the farmers.
Egypt, the world's largest wheat importer has bought so far 2016 4.8 million tons of wheat of local production of the crop. The harvest started in April and usually ends in July.
Last year, the Government purchased a record volume of 5.3 million tons, in the year 2014 but only 3.7 million tons. Informed the Minister of agriculture, that this year 14.5 billion Egyptian pounds (1.6 billion USD) are issued to the subsidised wheat price of 420 Egyptian pounds (= $47.3) per Ardeb (150 kg) to buy. You want to achieve with the subsidy that grain crops for the farmers remain economically. The support also loomed large but also to subsidy fraud.
