By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    World Bank agrees $7bn new partnership framework with Egypt
    World Bank agrees $7bn new partnership framework with Egypt
    March 22, 2023
    IFC-supported partnership launched to help increase clean water supply in Egypt
    IFC-supported partnership launched to help increase clean water supply in Egypt
    March 22, 2023
    International powerhouse brands turn to inaugural GITEX Africa 2023 as launchpad to scale operations in the world’s next biggest digital economy
    International powerhouse brands turn to inaugural GITEX Africa 2023 as launchpad to scale operations in the world’s next biggest digital economy  
    March 22, 2023
    Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
    Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 
    March 22, 2023
    Egypt aims to attract 30 million tourists in 2028: Tourism Minister
    Egypt aims to attract 30 million tourists in 2028: Tourism Minister
    March 22, 2023
  • Politics
    PoliticsShow More
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    Egypt’s foreign minister phones Algerian counterpart over boosting ties
    March 22, 2023
    Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
    Opinion| Türkiye and Egypt: For better times with many opportunities
    March 22, 2023
    Drought caused 43,000 deaths in Somalia in 2022: UN
    Drought caused 43,000 deaths in Somalia in 2022: UN 
    March 22, 2023
    Opinion| The Chinese dragon occupies America's place in the Middle East
    Opinion| The Chinese dragon occupies America’s place in the Middle East
    March 22, 2023
    Al Azhar University partners with Google to empower students with latest learning solutions
    Al Azhar University partners with Google to empower students with latest learning solutions
    March 22, 2023
  • Interviews
    InterviewsShow More
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    Valeo has invested around €0.5bn in Egypt over the past 10 years: CEO
    December 27, 2022
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: 175,000 tons of wheat purchased, to be supplied in April
Share
Notification
Latest News
World Bank agrees $7bn new partnership framework with Egypt
World Bank agrees $7bn new partnership framework with Egypt
Business
Egypt’s foreign minister phones Algerian counterpart over boosting ties
Egypt’s foreign minister phones Algerian counterpart over boosting ties
Politics Egypt
IFC-supported partnership launched to help increase clean water supply in Egypt
IFC-supported partnership launched to help increase clean water supply in Egypt
Business
Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
Opinion| Türkiye and Egypt: For better times with many opportunities
Politics Opinion
International powerhouse brands turn to inaugural GITEX Africa 2023 as launchpad to scale operations in the world’s next biggest digital economy
International powerhouse brands turn to inaugural GITEX Africa 2023 as launchpad to scale operations in the world’s next biggest digital economy  
Business Technology
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > 175,000 tons of wheat purchased, to be supplied in April
Business

175,000 tons of wheat purchased, to be supplied in April

Sara Aggour
Last updated: 2014/03/22 at 5:02 PM
By Sara Aggour 2 Min Read
Share
Egypt bought approximately 3.9m tonnes of wheat on the local market from farmers since the beginning of the harvest season in mid-April (AFP Photo)
SHARE
GASC purchased 175,000 tons of wheat from Romania, Russia and the United Stated (AFP Photo)
GASC purchased 175,000 tons of wheat from Romania, Russia and the United Stated
(AFP Photo)

The General Authority for Supply Commodities (GASC) purchased 175,000 tons of wheat from Romania, Russia and the United States to produce subsidised bread, the Ministry of Supply and Domestic Trade announced. The purchased wheat will be supplied starting 11 April over a period of 10 days.

Around 60,000 tons were purchased from Romania and the same amounts from Russia. The remaining 55,000 were bought from the United States. The average price per ton was $312, bringing the total cost of imported wheat to $54.6m.

Minister of Supply Khaled Hanafy said that the strategic stock of wheat is within safe levels, and has previously announced that the stock should be sufficient till June.

Hanafy added that the ministry is currently studying each cycle of bread production to eliminate obstacles that create unnecessary costs.

The bread distribution system wastes between 20% and 25% of the state’s bread subsidies budget, some EGP 22bn.

Earlier this month, 295,000 tons of wheat was purchased from Romania and Russia. Around 60,000 tons will be imported from Romania with a cost of $292.54 per ton, while the remainder of 235,000 tons will be imported from Russia with an average price of $292.50 per ton.

In February, Minister of Agriculture Ayman Abu Hadid revealed that a new strategy for marketing wheat domestically had been developed by the Ministry of Agriculture and Land Reclamation. The ministry cooperated with the Principal Bank for Development and Agricultural Credit (PBDAC) and agriculture cooperative associations to develop the new marketing strategy.

The PBDAC will grant loans to agriculture co-ops in order to help them purchase wheat before the end of the supply season. The co-ops will refund the granted amount after marketing and distributing the purchased quantities.

You Might Also Like

World Bank agrees $7bn new partnership framework with Egypt

IFC-supported partnership launched to help increase clean water supply in Egypt

International powerhouse brands turn to inaugural GITEX Africa 2023 as launchpad to scale operations in the world’s next biggest digital economy  

Egypt starts trial operation of ‘Iqat’ gold mine: Minister of Petroleum 

Egypt aims to attract 30 million tourists in 2028: Tourism Minister

TAGGED: Bread, Daily News, Daily News Egypt, DNE, imports, Internal Trade, supply, wheat
Share this Article
Facebook Twitter Email Print
Previous Article PetroJet’s net profit hikes 14% year on year
Next Article $1.3bn Italian investments in energy and infrastructure: Egypt ambassador
3 Comments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

World Bank agrees $7bn new partnership framework with Egypt
World Bank agrees $7bn new partnership framework with Egypt
Business
Egypt’s foreign minister phones Algerian counterpart over boosting ties
Egypt’s foreign minister phones Algerian counterpart over boosting ties
Politics Egypt
IFC-supported partnership launched to help increase clean water supply in Egypt
IFC-supported partnership launched to help increase clean water supply in Egypt
Business
Turkish President  Recep Tayyip Erdoğan and Egypt President Abdel-Fattah Al-Sisi met in Doha
Opinion| Türkiye and Egypt: For better times with many opportunities
Politics Opinion
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?