Cairo – Mubasher: Egypt has allocated an additional EGP 12 billion for wheat purchase, following the hike in global prices, Mohamed Maait, Minister of Finance said in an official press release.
The rise in wheat purchase allocations resulted from unprecedented growth in inflation rates, disruptions in supply chains, and an increase in shipping costs, Maait added.
The Egyptian government has also increased the price of local wheat supply by about EGP 670 per tonne to ease the burden for farmers.
