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Wednesday, 8 February 2017

House wheat committee objects to using coops, pushes for higher prices

The House of Representatives committee formed to investigate last year’s wheat scandal (it’s still around) is objecting to the use of agriculture cooperatives to collect this season’s wheat harvest, said committee member Yasser Omar. He tells Al Borsa that these coops are not equipped to receive the wheat, which will lead to siphoning. Supply Minister Mohamed Ali El Sheikh had stated previously that farmer coops will be used in this year’s collection. Furthermore, the committee is not yet done horse-trading and haggling with the government over the price. The government had announced that it would be buying wheat at the international price of EGP 700 per ardib, plus a EGP 50 premium. The committee is pushing for that premium to be raised to EGP 100.

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