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Thursday, 19 May 2016

Agriculture ministry buys 3.25 mn tons of local wheat

The Agriculture Ministry has bought 3.25 mn tonnes of domestic wheat since the start of the local procurement season on April 15, it said on Wednesday, adding that it plans to buy 4 mn tonnes in 2016, it said, according to Reuters. The ministry has been buying up wheat at rapid speeds over the last week, which the ministry has attributed to a decision by the government to open additional storage space. We reported on Wednesday that farmers are complaining the government has paid them only a small fraction for local harvests, receiving around EGP 1.3 bn out of EGP 9 bn owed for c. 3 mn tonnes of wheat.

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