News
19.05.2009
Egypt procures 900,600 tonnes of local wheat
Egypt has bought 900,600 tonnes of domestic wheat since the start of the local procurement season on April 28, an official at the Ministry of Social Solidarity said on Sunday. "The total figure is 900,600 tonnes so far," the official told Reuters, asking not to be named because he was not authorised to speak to the press on the matter.
The local procurement season is due to end by mid-June but the ministry could decide to extend the deadline depending on market conditions, he said. Egypt's state-owned grain body, the General Authority for Supply Commodities, aims to buy 3 million tonnes of domestic wheat this year. The Finance Ministry has allocated 5 billion Egyptian pounds ($890.1 million) for local wheat purchases, and the Ministry of Social Solidarity had set the price of procurement at between 240 and 250 pounds per ardeb (150 kilograms).
Reuters
