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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Egypt Strategic Reserve of Wheat Enough for 5 Months


Sun 26 Jun 2022 | 02:55 PM
Rana Atef

Dr. Ali El-Moselhi, the Minister of Supplies, announced on Sunday that Egypt has its all strategic needs of essential goods, including wheat, rice, and sugar.

El-Moselhi pointed out that Egypt has its needs from wheat for 5.7 months, and sugar for 6.7 months, adding that Egypt is self-sufficient in rice. However, the state will buy more rice to secure citizens' needs for food for at least three months.

Regarding cooking oil, Egypt has its needs from it for 6.2 months. It is worthy to mention that cooking oil's prices are increasing due to the Russian-Ukrainian war as Ukraine export 30% of the traded cooking oil globally.

The minister pointed out that Egypt's strategic reserve of frozen meat is enough for six months, fresh meat for 15 months, and frozen poultry for six months.

El-Moselhi's statements came during a conference dedicated to the state's preparations for the Eid Al-Adha.

It is worthy to mention that Egyptian wheat imports recorded a slight decline in the recent period, according to the foreign trade bulletin issued by the Central Agency for Public Mobilization and Statistics (CAPMAS).

The total value of wheat imports amounted to about $310.8 million last March, compared to $317 million in March 2021, a decrease of $6 million, or 1.9%.

Egypt’s imports of wheat came among the list of the North African imports of raw materials, whose total value amounted to about $1 billion last March, compared to $1,062 billion in the same month of 2021, a decline of $42,107 million.

Egyptian wheat imports continue to decline for the third month in a row since the beginning of 2022.