Egypt in the next season plans to reduce volumes of purchases local wheat

By data Ministry finance of Arab Republic Egypt, in 2023/24 MG in state reserves of the country are planned to buy 4 million tons of wheat from local farmers that for 5% will concede to an indicator of the previous season, reports Egypt Today. At the same time, considering the sharp growth of purchase prices on grain, expenses on the specified purposes can increase approximately by 75% a year, to 45 billion Egyptian pounds (about $1,4 billion). As it is noted, increase of purchase price of wheat will be caused by encouragement of local farmers to increase in productions strategically important for Egypt cultures, such as wheat, for achievement of level...