Egypt has received 2,600,000 tons of wheat from Egyptian farmers since the beginning of May, the Ministry of Agriculture said on Tuesday.
State-run news agency MENA reported the ministry did not receive any financial complaints from farmers. The wheat was purchased at LE360 per 150 kg, according to MENA, representing an increase of LE90 compared to last year and a difference of LE30 from international prices.
Al-Sayyed Ali Shaker, head of the Principal Bank for Development and Agricultural Credit (PBDAC), said granaries at banks across the country will be ready to receive more than 3 million tons of wheat produced up to 15 July.
Egypt imports 6-7 million tons annually, making it one of the largest wheat importers globally.
Local wheat production reaches eight million tons per year, while consumption is roughly 14 million tons.
Translated from the Arabic Edition
