(AFP Photo)
By Lamia Nabil
The Ministry of Supply and Internal Trade is readying to receive some 4.5 million tonnes of wheat during the coming domestic wheat harvest season, said Supply Minister Bassem Ouda during a press conference on Saturday.
“The Ministry is prepared right now for the coming harvest,” he said.
Ouda added that the ministry has been receiving wheat supplies since the middle of April, and expects to receive 4.5 million tonnes of local wheat from farmers and suppliers within the next three months.
“The Ministry of Finance has allocated EGP 11bn to purchase local wheat from farmers and traders,” he said. “EGP 500m have been transferred to the General Authority for Supply Commodities (GASC), and EGP 250m have been transferred to the Principal Bank for Development and Agricultural Credit (PBDAC).”
“The bank will now transfer this amount to its branches in the provinces in order to pay farmers promptly for the supply of domestic wheat,” he added. “We will need to receive by 1 May 50,000 tonnes per day from the domestic market.”
Ouda also added that suppliers, farmers and traders will store their wheat in silos belonging to PBDAC, the Food Industries Holding Company, the Egyptian Holding Company for Silos and Storage (EHCSS), as well as in local units and villages, in order to help farmers to reduce the cost of transport.
He also added that both the ministries of supply and agriculture had announced the delivery price for the wheat, which, he said, was “the highest price ever”, standing at EGP 400 for 150kg of wheat, with the price per tonne reaching EGP 2,670, compared with the price of imported wheat which does not exceed EGP 2,275.
Ouda also affirmed that the Supply Ministry will award EGP 1m to the province providing the highest amount of domestic wheat, with there being prizes for “the most productive farmer”.
