Egypt sets 2018 wheat procurement prices

16/04/2018,

On 11 April, the Ministry of Supply and Internal Trading (MSIT) announced the new procurement prices for the 2018 wheat crop, to be harvested from mid-April. Prices range from USD 215 to USD 226 per tonne (EGP 570 – 600 per ardeb or 150 kg) depending on crop quality. The new procurement price is slightly higher than in 2017 (FPMA Food Policies) and mirrors the price paid by the country for imported wheat in the past year. This is the second year Egypt sets prices depending on trends in the international market and not above in an effort to curb government spending and fraud risks. Procured wheat can only be received in silos and barns owned by holding companies belonging to the MSIT to preserve the quality of the grains and no wheat will be received in dirt barns (shonas, traditional flat storage system). Farmers’ groups have warned that the procurement prices are too low and will likely lead to decreased planted area next season.

Country: Egypt