Arab Finance: Egypt purchased about 4.72 million tons of locally grown wheat during the 2026 procurement season, nearly 20% more than a year earlier but below the government's 5 million-ton target, Reuters reported, citing a government document.

The higher purchases followed an increase in the state procurement price. Prime Minister Mostafa Madbouly announced in April that farmers would receive EGP 2,500 per ardeb, up 6.4% from last season’s highest price of EGP 2,350.

The expanded cultivated area also supported local supplies. Minister of Agriculture and Land Reclamation Alaa Farouk said in May that farmers planted 3.7 million feddans with wheat this year, 600,000 feddans more than a year earlier.

Farouk told Reuters that Egypt aims to achieve self-sufficiency in the wheat needed for subsidized bread production by 2028, noting that the government treats wheat as a strategic crop tied to food security.

Egypt produces around 9 million tons of wheat annually, while domestic consumption stands at about 19 million tons. Farmers generally deliver around 4 million tons of the local crop to the government for the subsidized bread program, leaving the country reliant on imports to bridge the gap.

As one of the world’s largest wheat importers, Egypt typically brings in about 10 million tons annually. The government accounts for roughly half of those imports to supply subsidized bread to about 70 million people.

The government plans to reform the subsidy framework during fiscal year (FY) 2026/2027, which began in July 2026 and runs through June 2027, by transitioning from the existing in-kind system to cash-based support.