Egypt Set to Establish Free Zone to Store Wheat

Egypt's Prime Minister Mostafa Madbouli indicated that the establishment of a logistics-free zone to store wheat will represent a great added value.

The Madbouli also referred to the possibility of benefiting from such area through setting up stores and warehouses for different oils.

He made these remarks during a meeting on Monday to follow up on the necessary measures to establish a free zone to store wheat and oils.

During the meeting, Madbouli referred to the directives issued by President Abdel Fattah El Sisi in which he emphasized the importance of establishing a logistics free zone to store wheat either in the SCZONE or elsewhere.

The SCZONE represents a perfect opportunity for several countries to benefit from its potential and capabilities in storing wheat and other grains and transferring them into a number of international markets, the premier cited President Sisi's statement. 

Egyp, the world’s leading wheat importer and among the leaders in wheat consumption per capita, is aiming to increase domestic wheat production. 

The North African country is projected to produce 9.8 million tonnes in 2022-23, which is 800,000 tonnes more than last year’s record total, according to the US Department of Agriculture’s Foreign Agricultural Service (FAS).