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Monday, 2 April 2018

Supply minister, prime minister to discuss local wheat prices for upcoming harvest season next week

Supply Minister Ali El Moselhy is expected to meet next week with Prime Minister Sherif Ismail next week to discuss the price of buying local wheat for the upcoming harvest season, Farmers Union head El Nouby Abul Loz tells Al Mal. Farmers are pushing to set the price at EGP 700 per ardib, up from EGP 555 last year, Abul Loz told El Moselhy during a meeting yesterday. Abul Loz had previously said that he expects the government to raise wheat prices by EGP 100 to EGP 655 per ardib, despite government sources saying last month that the buying price would likely be based on average local and global prices, which would increase it by EGP 15-20 per ardib. The harvest season runs from mid-April until July and the government is expecting to purchase over 4 mn tonnes of local wheat this year.

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