Arab Finance: The Egyptian government is considering raising the wheat procurement price for the current harvest season to up to EGP 2,000 per ardeb, parliamentary sources told Al Arabiya Business.
This represents an increase of EGP 400 per ardeb from the reference price of EGP 1,600 per ardeb previously estimated by the government.
Last November, Egypt raised the reference local wheat procurement price from EGP 1,500 to EGP 1,600 per ardeb to encourage farmers to plant and supply strategic wheat.