Egypt says to buy wheat from local farmers at global prices next season

Egypt will purchase wheat from its local farmers at global prices next season and will announce the price in Mid-March, the supply ministry announced in a statement Saturday.

“The government is keen on supporting and securing the purchase of the local wheat crop from farmers in accordance with the global prices, while taking into account the cost of all elements of production,” the statement said.

Egypt’s local wheat harvest begins around mid-April and runs through July.

Source: Reuters