Finance Minister Mohamed Maeit said Friday that some 45 billion pounds are allocated for wheat purchases from farmers this year.
The allocation should cover wheat purchases between April 1 and mid-August, the minister said in a Finance Ministry statement, pointing to an increase by 19 billion pounds on last year.
This, Maeit added, is done following directives by President Abdel Fattah El Sisi to support farmers and encourage them to expand the cultivation of strategic agricultural crops in a way that would contribute to achieving self-sufficiency, promote food security and reduce imports.
He said his Ministry is coordinating action with the Supply Ministry to quickly pay dues of farmers who deliver wheat at the new price of 1,500 pounds per ardeb instead of 865 pounds.
