Egypt secures ‘unprecedented commodity reserves’ amid regional conflict

Egypt has secured an unprecedented strategic reserve of basic commodities, with stockpiles of some essential goods lasting over a year, Supply and Internal Trade Minister Sherif Farouk announced during a crisis management committee meeting on Tuesday.

Prime Minister Moustafa Madbouly chaired the central committee meeting to review the domestic economic fallout of the American-Israeli-Iranian war.

The meeting focused on state efforts to secure petroleum products and food supplies, stabilize local markets, and counter monopolistic practices through a new price-monitoring program.

According to a statement by cabinet spokesperson Mohamed El-Homsany, the government is expanding contract farming for strategic crops and strengthening partnerships with the private sector to manage supply and demand.