The government on Wednesday signed a contract with the United States and Argentina to import 120,000 tons of wheat to supplement the local wheat crop needed to produce bread.
During this wheat harvesting season, which starts on 20 April, the local crop is expected to supply 3 million tons to the market, up from 2.6 million tons last year.
Nauman Nasr Nauman of the Social Solidarity and Domestic Trade Ministry said the government is importing 60,000 tons from the United States at US$262.84 per ton, and another 60,000 tons from Argentina at US$259.35 per ton from 11 to 20 May.
Government sources said the Social Solidarity and Domestic Trade Ministry needs LE6.5 billion to purchase wheat from local farmers.
Translated from Al-Masry Al-Youm