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Egypt collects 1.85M tons of wheat from local farmers

Egypt collects 1.85M tons of wheat from local farmers

ArabFinance: The Egyptian government has collected 1.854 million tons of wheat during the local harvest season that started in April, the Middle East News Agency (MENA) reported on May 16th, citing data from the Ministry of Supply and Internal Trade.

The government has paid EGP 8.5 billion to local farmers in consideration of wheat supplies, Chairman of Egyptian Holding Company for Silos and Storage (EHCSS) Sherif Basili said.

The harvest season is promising this year and there is an increase in supplies by virtue of measures taken by the government to incentivize farmers, he added.

The local wheat harvest season starts in April and ends in August. The Egyptian supply ministry is planning to collect up to six million tons of wheat in the current season.

Earlier in March, the government said in a statement that it approved to disburse an exceptional incentive for supplying local wheat at a value of EGP 65 per ardeb.

In a relevant news, the Egyptian Minister of Planning and Economic Development Hala El-Said previously announced that Egypt plans to become self-sufficient in wheat by 65% by 2025 from 45% in 2020.

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