Egypt aims to increase wheat reserves, to be sufficient for 6 months by strengthening purchases

The “Future of Egypt” device, the new exclusive Government of Government of Grains, presented the provision in the country within a month, about 900 thousand tonnes of wheat, in the framework of the country’s efforts to increase reserves to the needs of about 6 months, according to Hossam Al -jarahi, the conditions of the Supply Code -Sharq “. Al -jarrahi added to Al -sharq that the quantities received from the agency increased the country’s reserves of wheat to 3.8 months. In a surprising step in December last year, Egypt has the responsibility of wheat purchases of the Supply Commodities Authority, which is the ordinary government agencies to buy the ‘future of Egypt. An exclusive importer. The ‘future of Egypt’ was founded in 2022 by a presidential decision, as a device associated with the Air Force and works under its supervision, but the decision was not published in the official newspaper at the time. Al -jarrahi has already ensured that the “future of Egypt” is aimed at reaching the strategic reserve of wheat up to 6 months, by gaining large quantities in the near future. A jump into the import of wheat in Egypt, the import of wheat in Egypt jumped to the highest level in the year 2024 to reach 14.2 million tonnes compared to 10.8 million tonnes in 2023, a 31%increase, according to an official document obtained by “Al Sharq”. The reason for increasing the amounts imported from wheat over the past year is mainly due to the abundance of the dollar, in addition to the fall in the average global wheat prices during the same year up to $ 240 per tonne, compared to its prices in 2023, which was more than $ 350 per tonne, according to a government official for the “East”. The country did not see that the import of such large quantities of wheat was ten years ago, as the largest amount of Egypt was in 2014 when it bought about 14.9 million tonnes. Al -jarrahi told al -sharq that “Egypt’s reserves of eating oil are 5.3 months, and that the Ministry of Provision’s control company has requested 50 thousand tons of the” Future of Egypt “device, of which 36 thousand tons have come so far, and the sugar reserves are 11 months, and the sugar rounds are in Egypt.