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Tuesday, 20 December 2016

House Agriculture Committee want gov’t to raise price of domestic wheat

The House of Representatives’ Agriculture Committee now wants the government to raise the price the government pays to farmers for this year’s wheat harvest to EGP 650 per ardib, MP Mahmoud Heba tells Al Mal. The reason offered leaves in utter sympathy for the government for having to deal with these people: the devaluation and rising global wheat prices. We assume MPs are not goldfish and have a memory that extends past one month when the government acquiesced to raising the price of wheat to EGP 450 per ardib from EGP 420. But that’s about all the memory they have, as they themselves repeatedly rejected proposals whereby farmers would be paid the global market price with a EGP 1,400 top-up. We would also like to ask them how domestically grown wheat, cultivated with subsidized and locally manufactured fertilizers, will be affected by the float.

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