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Egypt wheat reserves to last five months

Egypt’s wheat reserves will last until the end of January, said Ahmed al-Rakaiby, head of Egypt's wheat committee.

"The safe strategic reserve of wheat will now last until the last week of next January instead of December, the date previously announced in August," al-Rakaiby told Al-Masry Al-Youm.  

Egypt imports nearly half of its annual 14-million-ton wheat consumption. 

Egyptians traditionally increase consumption of bread during the Muslim fasting month of Ramadan, which started in mid-August.

A decision by Russia, the largest supplier of wheat to Egypt last year, to ban wheat exports following a drought sent world prices soaring last month.  

Egypt's trade ministry has said the higher prices will cost the state between 2.5 billion and 4 billion Egyptian pounds (US$451-722 million) in the current fiscal year.

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