Egypt raises wheat procurement prices to boost reserves
Egypt has raised its wheat procurement price to boost local buying and strengthen reserves amid global supply risks. The move aims to reduce import dependence, with a target of 5 million tons this year. Higher prices are expected to support farmers while securing supplies for the country’s large food subsidy program.
Egypt has decided to raise the procurement price for locally produced wheat to 2,500 pounds ($46.76) per ardeb (150 kg) for the 2026 harvest. Finance Minister Ahmed Kouchouk said the move aims to stimulate domestic purchases amid the war in Iran and concerns over global supply disruptions. Previously, prices ranged between 2,250 and 2,350 pounds depending on quality.
The higher price is expected to encourage farmers to sell more wheat to the state, which is seeking to strengthen its strategic reserves. The procurement campaign is set to begin in about two weeks, though it remains unclear whether a quality-based pricing range will still apply.
The government targets purchasing up to 5 million tons of locally produced wheat this year, exceeding last year’s volume of around 3.9 million tons. This reflects Egypt’s efforts to reduce reliance on imports and move toward greater self-sufficiency.
Prime Minister Mostafa Madbouly stated that current reserves of key commodities — including wheat, vegetable oils, corn, crude oil, and gas — are sufficient to cover about six months of demand. Authorities are also working to extend reserves by an additional two to three months.
Egypt remains one of the world’s largest wheat importers, typically buying around 10 million tons annually. A significant share is used in the country’s bread subsidy program, which supports about 70 million people, making increased domestic procurement a key element of food security policy.
To Read more about Wheat News continue reading Agriinsite.com
Source : Ukr Agro Consult
