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Ministry of Supply denies shortage in wheat reserves

Ministry of Supply denies shortage in wheat reserves

ArabFinance: The Egyptian Cabinet Media Center has denied reports regarding a decline in Egypt’s strategic reserves of wheat due to instability in the global food market, the Middle East News Agency (MENA) reported on May 19th.

The Cabinet’s media center announced that it contacted the Ministry of Supply and Internal Trade which denied these reports.

The supply ministry stressed that Egypt’s wheat reserves are sufficient for some months ahead, adding that wheat local harvest season has already started and will increase reserves to be enough until December.

The government is seeking precautionary measures to secure the strategic wheat reserves through diversification of wheat imports and building of more silos, the ministry said.

On May 17th, the Indian Ministry of Commerce and Industry announced that it eased some of the restrictions imposed on wheat exports, allowing a shipment headed to Egypt.

The Egyptian government has collected 1.854 million tons of wheat during the local harvest season that started in April.

 

 

 

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