The Egyptian Minister of Supply, Ali Al-Moselhi, said that Egypt plans to reduce wheat imports by 500,000 tons annually, or about 10%, by providing more subsidized bread from its grains.
The move comes as the world’s largest importer of wheat struggles with soaring commodity prices as a result of Russia’s invasion of Ukraine. Egyptian officials are looking to increase their reliance on local wheat production in an effort to reduce the import bill.
The authorities are calling for mill owners who produce flour for the subsidy program to increase the amount of wheat bran used, according to “Bloomberg” and seen by “Al Arabiya.net”.
Food security is essential in a country of over 100 million people, where the majority benefit from subsidized bread.
Al-Moselhi said the government plans to import between 5 million and 5.5 million tons of wheat in the next fiscal year, which begins on July 1. He said that the current wheat stocks are sufficient for 5.7 months, and local wheat purchases increased by 12% to reach 3.92 million tons so far in 2022 compared to the previous year.