Back to the complete issue
Sunday, 25 March 2018

Government to purchase over 4 mn tonnes of local wheat this year

The government is planning to purchase over 4 mn tonnes of wheat from local farmers this year, Supply Ministry spokesperson Mamdouh Ramadan tells Reuters’ Arabic service. The government is prepared to purchase however much farmers will be willing to sell, Ramadan said, adding that the Ismail Cabinet will announce the price of local wheat for this harvest season by the end of the month. Farmers Union head El Nouby Abul Loz told Al Mal that he expects the government to raise local wheat prices by EGP 100 per ardib to EGP 655 from EGP 555 per ardib. Government sources had told Reuters earlier this month, however, that the buying price of wheat would likely be based on average local and global prices, which would increase it by EGP 15-20 per ardib.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.