Egypt Purchases 300,000 Tons of Wheat, Reserves Sufficient for 5 Mos

The Minister of Supply and Internal Trade  Ali Al-Moselhi said that the strategic reserve of wheat is sufficient for more than 5 months.

Al-Moselhi indicated that next January the first meeting of the Higher Committee for the Marketing of Wheat will be held in cooperation with the Ministry of Agriculture to determine cultivated lands and the crops, and he pointed out that the supply of wheat on the local level will start in mid-April.

During a press conference held on Wednesday at the ministry, Al-Moselhi stressed that the formation of a strategic reserve of highly sensitive commodities contributed to protecting against fluctuations in world markets, explaining that Egypt is the largest buyer of wheat in the world.

The General Authority for Supply Commodities, on behalf of the Ministry of Supply and Internal Trade, contracted through an international tender to purchase 300,000 tons of French, Ukrainian and Romanian wheat.

This comes within the framework of the ministry's strategy to enhance its stocks of basic commodities.

The authority indicated in a statement that 60,000 tons of French wheat, 180,000 tons of Ukrainian wheat, and 60,000 tons of Romanian wheat were purchased for shipment from February 15 to March 3.

It should be noted that the Minister of Supply and Internal Trade had stated earlier that the strategic reserve of wheat is sufficient for more than 5 months.