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Egypt raises local wheat procurement price to support Egyptian farmers

Egypt has increased its local wheat procurement price from LE 1500 to LE 1600 per ardeb, fostering supportive conditions for its farmers.
06.11.23 | Source:

In an effort to support their farming community, Egypt has announced a rise in the local wheat procurement price from LE 1500 to LE 1600 per wheat ardeb. Emphasizing its strategic importance, the price increase is aimed to encourage local farmers to grow more grain in the upcoming harvest season. The new price will apply to almost 150 kilograms of wheat per harvest season. In tandem with this decision, the government had earlier increased the wheat procurement price from LE 1000 to LE 1500 per ardeb in April. They believe that motivating farmers to grow more of this essential crop can help secure the country's food supplies in the future. The Ministry of Supply and Internal Trade had also reported that it purchased 3.8 tons of wheat from local farmers during the previous harvest season, which ended in August. As wheat forms an integral part of the Egyptian diet, these measures are aimed at strengthening the country's agricultural self-sufficiency. The Chairman of the Farmers Syndicate, Abdel Rahman Abou Sadam, stated in an earlier press release that wheat planting for the upcoming season, scheduled for November and December, is expected to occur on four million feddans. However, Sadam indicated that Egypt grows only about half its consumption of wheat, underscoring the need for increased local production to fulfill the country's requirement.