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Wednesday, 19 July 2017

Supply Ministry announces wheat milling prices

Supply Ministry announces new wheat milling prices: The Supply Ministry announced it will pay public wheat mills EGP 500 per tonne of wheat, while private mills will receive EGP 480 per tonne. The news came after the ministry reached an agreement with mill owners, ministry spokesman Mohamed Sewed tells Al Borsa. The pricing scheme will be up for review on a bi-annual basis, a stipulation of the mill owners. The Federation of Egyptian Industries had been lobbying for EGP 540 per tonne in exchange for the ministry collecting the wheat bran for the Agriculture Ministry’s livestock projects. The Supply Ministry has presented the proposed prices to the Finance Ministry, along with its plans to stop subsidizing flour for subsidized bread production, to bring the new prices into effect as of the beginning of August, Sewed says.

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