Cairo - Mubasher: Egypt's President Abdel Fattah El-Sisi said that it's time to increase the price of the subsidised bread, according to state-run TV.
This statement came during the inauguration of several food industrial projects in El-Menofia Governorate on Tuesday, including the food industrial city (Silo Foods) in Sadat City.
Silo Foods, built over 135 feddans, includes 10 factories for the production of 40 products with a combined output capacity of 470,000 tonnes per year, the Director-General of the National Service Projects Authority, Walid Aboul Magd, said.
Egypt is looking to increase the annual storage capacity of wheat to 5 million tonnes in the upcoming period, up from the current 3.4 million and 2014's 1.2 million, the Minister of Supply and Internal Trade, Ali El-Moselhy, revealed.
The country plans to raise the wheat storage capacity by 1.8 million tonnes in the next period, he added, noting that the strategic reserve of wheat is sufficient for 6.5 months.
As for sugar reserves, they are enough to meet the country's needs for six months with the country eyeing self-sufficiency in 2022, El-Moselhy pointed out.
He added that the sugar imports dropped to 200,000 tonnes from 1 million.
