Supply Ministry to diversify wheat imports, Agriculture Ministry to increase wheat harvest
The Supply Ministry is looking to diversify its wheat imports to attract a bigger number of offers and fetch better prices, Supply Minister Mohamed Ali El Sheikh said, according to Al Borsa. Demand for Egypt’s wheat tenders dropped significantly last year during our backward cartwheel, hula-hoop flip-flop on ergot policy, and has been playing catchup. According to El Sheikh, the country’s strategic reserve of wheat is enough to last four months. Meanwhile, Agriculture Minister Essam Fayed said the ministry will raise the domestic wheat harvest to 10 mn tonnes, from a current 8 mn tonnes, within three years by increasing the area of cultivated land and increasing the crop yield, Al Mal reports. We’re not putting too much stock in the figure as CAPMAS itself said last week that climate change is likely to reduce Egypt’s harvest to as much as 7.9 mn tonnes. That’s not counting Egypt’s water shortages.