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In this year, the Ministry of Supply and Internal Trade of Egypt plans to purchase 4 million tons of domestic wheat, stated by Ali Al-Muselhi, the head of the department. The harvest collection will begin in April. Last year, the government increased the price of domestic wheat to encourage farmers to increase supplies to the state. At that time, 4.58 million tons of grain were purchased, exceeding the volumes of previous years.
In addition, Ali Al-Muselhi emphasized that the country has strategic reserves of essential goods for several months. Wheat reserves will last for 4.5 months, and rice reserves for 6.5 months.
Although food prices are rising and inflation is increasing, the government maintains the cost of subsidized bread. The price of bread, a staple food for the poor, remains at 5 piasters. However, the expenses for subsidizing bread have increased due to the rise in global wheat prices.
Egypt is the world's largest wheat importer, purchasing around 11 million tons of grain abroad annually. The main suppliers to the Arab Republic are Russia and Ukraine. However, due to the crisis in Ukraine and sanctions against Russia by the US and the European Union, Egypt had to diversify its grain sources.
Every day in Egypt, 270 to 275 million subsidized bread loaves are produced and distributed among the needy citizens through cards costing 5 piasters.
