Egypt's strategic reserve of commodities "safe", wheat sufficient for 7.3 months: Min.

CAIRO - 9 August 2022: The Egyptian Minister of Supply, Ali Al-Moselhi, announced that the strategic reserve of basic commodities is safe and sufficient for 6 to 7 months.

 

In his statements on the sidelines of the opening of the Commercial Registry Office in Beni Suef Governorate, he indicated that the strategic reserve of wheat is sufficient for up to 7.3 months, and about 4 million tons of local wheat have been supplied so far.

 

He added that since the outbreak of the Russian-Ukrainian crisis, about 1.8 million tons of wheat of various origins have been imported.

 

With regard to importing wheat from India, the minister explained that India is facing a real problem represented by high temperatures and torrential rains. This led to the damage of large areas of the upcoming wheat crop, noting that the ministry contracted with India to buy 180,000 tons before exporting was banned, and it has not been released so far to meet its internal needs.

 

Earlier, Serbian President Aleksandar Vucic announced his country's approval to sell grain and wheat to Egypt, the Italian Nova news agency reported.

 

This comes after Serbia recently obtained a certificate for exporting wheat, apples, and “beef as well,” according to the country’s president.

 

In July, Egypt’s Minister of Supply, Ali Meselhi announced that Egypt’s strategic reserve of wheat became sufficient for 7 months thanks to the shipments that were recently purchased from abroad.

 

 

The Minister added that sugar stock is sufficient for the need for domestic consumption for 7.8 months, noting that this will be followed by the harvest season of the beet and sugarcane crops.

 

 

The Egyptian General Authority for Supply Commodities (GASC) said previously that it had offered an international tender to purchase 815,000 tons of wheat that would be shipped over August, September and October 2022.

 

 

Moselhi said that Egypt had contracted to buy 180,000 tons of wheat from India, which is less than what was previously agreed upon (500,000 tons).

 

 

He added that about 3.920 million tons of local wheat have been received from the farmers so far, with a rise between 11 percent and 12 percent compared to the last year.

 

 

French Ambassador to Cairo Marc Barety told the press that his country is a producer of wheat and that it prioritizes exporting the crop to Egypt in the current harvest season.

 

 

 

Egypt is currently suffering from a crisis of wheat supply from the conflicting Russia and Ukraine, the two biggest wheat importers to Egypt. So, the government is targeting to increase the area of the wheat crops by 1.5 million feddans over the next three years in accordance with a new study conducted by the Egyptian Cabinet's Information and Decision Support Center (IDSC).