Egypt increased the purchase price of locally produced wheat as part of a broader strategy to strengthen its strategic reserves and enhance food security.
Finance Minister Ahmed Kouchouk announced that the government will raise the procurement price to 2,500 Egyptian pounds per ardeb (150 kilograms), equivalent to approximately $46.76. The move marks a notable increase from previous levels, which ranged between 2,250 and 2,350 pounds depending on quality.
The decision comes as Egypt intensifies efforts to secure essential commodities amid global market volatility. Officials say the higher price is designed to incentivize local farmers to supply more wheat to the government, reducing reliance on imports.
Prime Minister Mostafa Madbouly stated that current reserves of key commodities, including wheat, vegetable oils, corn, oil, and gas, are sufficient to cover approximately six months of consumption. The government is now working to extend that buffer by an additional two to three months.
Egypt aims to procure around 5 million tons of locally produced wheat this year, as part of a long-term plan to reduce its dependence on imports and move closer to self-sufficiency.
Traditionally, the country imports about 10 million tons of wheat annually, with roughly half allocated to the state’s subsidized bread program, which supports nearly 70 million citizens.
Last year, the government purchased approximately 3.9 million tons of domestic wheat, slightly below its target range of 4 to 5 million tons during the harvest season, which typically runs from mid-April to mid-August.
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