The Egyptian Minister of Supply and Internal Trade Ali Moselhi said on Wednesday Egypt’s strategic stock of wheat is safe and sufficient for seven months for the first time ever.
Moselhi’s remarks came on the sidelines of the inauguration ceremony of “back to school” 2022 exhibition, which will kick off on September 1 and last until September 10 in Fair Grounds in Nasr City neighbourhood.
Egypt is expected to source around 4.2 million tons of local wheat during the season with 150,000 tons of seeds to augment its strategic wheat reserves.
Moselhi said grain prices have dropped worldwide in general and wheat prices reach now approximately $350 to $360 per tonne globally.
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