Monday 20 December 2021
Last update on Monday, December 20, 2021 At 6:30 PM
In Egypt, the government has subsidized several foodstuffs for the benefit of the population for more than 30 years. Among these is bread, the rapid consumption of which feeds the massive imports of wheat.
In Egypt, the value of wheat purchases amounted to around $ 2 billion between January and September. This is what the Central Agency for Public Mobilization and Statistics (CAPMAS) reported. This amount shows a decrease of 7% compared to the result recorded a year earlier in the same period ($ 2.2 billion).
While the reasons for this decline have not been put forward, some observers believe that it could be linked to the weak activity of the Strategic Raw Materials Supply Authority (GASC) in the global market. Faced with the rise in wheat prices, it had indeed canceled 3 wheat tenders since the beginning of the year.
It should be noted that the bill could start to rise again by the end of this year with the country making a strong comeback in the cereals scene. The GASC resumed its imports on the world market with a vengeance on November 29, with a record purchase of 600,000 tonnes of wheat in order to meet domestic cereal consumption needs.
Egypt uses around 20 million tonnes of wheat per year for food and feed.
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