Egypt’s supply min. affirms availability of basic commodities nationwide amid global crisis

CAIRO – 4 April 2022: Egyptian Supply Minister Ali El-Moselhi affirmed the availability of the basic commodities across governorates as he took part in the meeting of the high committee to face the impacts of the Ukraine crisis.

The meeting on Monday, chaired by Prime Minister Mostafa Madbouli, followed up on the strategic stockpile of wheat, rice, oil, sugar, pasta, beans, and fish, and pourtly.

On Sunday. President Abdel Fattah El-Sisi instructed the government to work on maintaining the continuity of the state’s basic food commodities strategic stockpile and to follow up on their market prices.

The president made the directives in a meeting on Sunday with Madbouli, Moselhi, and Minister of Agriculture Al-Sayed El-Quseir.

The meeting confirmed that there is no problem with providing these commodities to the citizens, a presidential statement read.

This comes within the framework of the state’s plans to maintain the continuity of the strategic stockpile of these basic commodities for a period of no less than six months.

The president’s directives come while Muslims in Egypt and worldwide are celebrating the holy month of Ramadan, during which demand on basic commodities usually rise, and while the Russia-Ukraine crisis has continued for more than a month, exerting a pressure on prices of commodities worldwide.

Madbouli said there are constant directives from President Sisi as regards proceeding with efforts made by all state bodies to ensure the availability of commodities for citizens in the coming period.

The directives are also related to setting up more commodity fairs and outlets during the holy fasting month of Ramadan and thereafter, he added.

Madbouli made the remarks during a meeting of the crisis committee meant to confront the impact of the current global crisis on strategic commodities.

During the meeting, the prime minister emphasized the importance of continuing and intensifying campaigns on markets in order to maintain discipline, as well as to prevent any monopolistic practices or attempts to hoard commodities.

The meeting also touched on preparations for Egypt’s wheat harvest season this year.

Egypt seeks to collect up to 6 million tons of local wheat from farmers this season, which started on 1 April, Minister of Supply Ali Moselhi said in the third meeting for the national committee to face the Ukraine crisis’s impact on strategic goods.

During the meeting, the Ministry of Supply said Egypt has secured more than 400 points to receive local wheat this year, affirming that there are enough strategic capacities to receive this quantity of local wheat.

Earlier in March, Moselhi said that Egypt’s strategic reserve of wheat is sufficient to last the country through 3.4 months.

Egypt’s Cabinet earlier announced setting the additional incentives ordered earlier by President Abdel Fattah El-Sisi to encourage farmers to hand their local wheat to the state at LE 65 per ardeb.

As per the directives, price of wheat ardeb, which is equal to 150 kilograms, will be LE 865, 875, and 885 for wheat with purity percentage of 22.5, 23, and 23.5 respectively.

Egypt has already raised the price of ardeb from LE 710 to nearly LE 810 last year to encourage farmers to supply local wheat.