CAIRO - 8 January 2024: Egypt has planted 3 million feddan worth of wheat since November 2023, in a year-on-year increase of almost half a million acres, according to a Cabinet statement.
This came during a meeting between the Minister of Agriculture Mohamed El-Quseir and Prime Minister Mostafa Madbouly to follow up on the cultivation of wheat as it is one of the most important strategic crops related to the axis of achieving food security in Egypt.
During the meeting, El-Quseir also discussed the status of a variety of agricultural crops, stressing that they are available in the markets in appropriate quantities and prices, pointing in this regard to the Ministry’s efforts to pump more quantities of these crops across Egypt.
In addition to that, Egypt’s wheat imports increased by over 14.5% to 11 million tons in 2023 from 9.6 million tons in 2022, according to statements made by Assistant Supply Minister Ibrahim Ashmawy to Ashraq Bloomberg.
In November, The Egyptian Cabinet approved the decision to raise the local wheat procurement price to LE 1,600 from LE 1,500. The price is per wheat ardeb which accounts for almost 150 kilograms.
The statement said that raising the price “is to encourage Egyptian farmers and motivate them to grow and supply this strategic crop in the upcoming harvest season.”
Egypt also signed a $500 million agreement to purchase wheat from Al-Dahra, a global agribusiness leader based in Abu Dhabi, in partnership with Abu Dhabi Exports Office (ADEX), to supply Egypt with wheat in a 5-year deal in which Egypt will import milling wheat worth $100 million per year.
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