Approximately LE10 billion has been allocated to buy wheat from local farmers and merchants this season, said Supply and Internal Trade Minister Khaled Hanafy in a press release Tuesday.
The ministry will receive approximately 4 million tons of wheat, which is 400,000 tons more than last year.
"This is a 40 percent increase in wheat compared to the same period last year," he added.
"We agreed with the Ministry of Petroleum to provide and increase the amount of diesel fuel needed to harvest the wheat and to tighten the control of supply inspectors in order to prevent smuggling on the black market and abroad," Hanafy said. "We have been coordinating with the Ministry of Agriculture to overcome all obstacles that face farmers and traders."
Agricultural exchange markets will be created for all grains in order to serve small farmers. This would, in turn, lead to a balance in market prices.
There will also be long-term contracts between the ministry and the Farmers Syndicate to provide fresh vegetables and fruits to consumer stores and wholesale companies directly without the need for intermediary traders, which will in turn reduce the cost of goods.
Edited translation from Al-Masry Al-Youm
