President of the Federation of Egyptian Industries’ (FEI) chamber of grain industry Tareq Hassanein has praised a decision taken by the cabinet on raising the price of wheat ardeb to EGP1,500.
The decision contributes to increasing supply rates and cutting costs of wheat imports, he said.
The cabinet approved during a meeting on Wednesday under Premier Moustafa Madbouli on upping the price of wheat ardeb in the 2023 harvest season to 1,500 pounds.
The decision was taken in coordination with the ministries concerned.
Cabinet Spokesman Nader Saad said the decision falls within the framework of the directives of President Abdel Fattah El Sisi.
He noted that the decision will encourage farmers to plant strategic crops, thus downing imports.
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