Arab Finance: Egypt’s Ministry of Agriculture and Land Reclamation has designated 5.5 million tons of storage capacities in preparation for 2023 wheat supply season, according to a statement by the ministry on April 19^th.

Minister Al-Sayed El-Quseir revealed that 21 silos affiliated to the milling companies have been developed, with a storage capacity of 530,000 tons, at a cost of about EGP 60 million.

El-Quseir pointed out that this comes within the framework of the state's plan to increase the production capacities of local and premium flour for the production of subsidized bread, with an estimated daily production of 250-270 million loaves.

On April 12th, the Egyptian cabinet approved an additional incentive to supply wheat from farmers for the 2023 season, bringing the price of wheat to EGP 1,500 per ardeb of 23.5 carats.

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