In a statement released today, Wednesday, the Egyptian Ministry of Supply stated: “By purchasing wheat from the General Authority for Supply Commodities at a price of 8700 pounds (442.52 USD) per tonne, the ministry will permit the mills that produce correct with an extraction of 72%.”
The bread and baked items made from this wheat are not subsidised.
According to the statement, starting on Saturday, October 15th, the ministry would sell (flour) flour to pasta makers that participate in the ration commodity system for a price of 10,000 pounds per tonne.
This action follows concerns from private importers and mills who are straining to pay the price of over 700,000 tonnes of wheat trapped in the ports due to the dollar shortage, according to Egyptian traders and grain rooms last week.
According to a letter published on September 26 by the Chamber of Cereal Industry and its Products in the Federation of Egyptian Industries, merchants and grain rooms in Egypt told Reuters that the price of wheat and flour (flour) used to make unintended bread increased in the nation and that about 80% of the mills that produce bread, pasta, and other commodities sold at the commercial price completely stopped working.
According to the General Authority for Supply, one of the enterprises requested to purchase grains from the authority’s strategic reserve.
The Ministry of Supply statement said that the ministry is working with the central bank to facilitate the payments of importers..
Egypt permits private mills to buy wheat for 8700 tonnes
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