ECONOMY

Egypt to keep set price paid to local wheat farmers

The local price exceeds the price Egypt pays in the international market by more than $100 per tonne. (Shutterstock)

Egypt, the world's top wheat importer, will buy wheat from local farmers in next year's harvest at the same price it paid this year, the cabinet spokesman said on Sunday.

Hossam al-Qawish said the government would pay farmers 420 Egyptian pounds (about $60) per ardeb, equivalent to about 150 kilograms.

The local price exceeds the price Egypt pays in the international market by more than $100 per tonne. In recent years the government has steadily raised this price, as it aims to encourage farmers to sell to the state instead of to private traders.
 

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Last Update: Sunday, 12 October 2014 KSA 14:48 - GMT 11:48
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Egypt to keep set price paid to local wheat farmers
The local price exceeds the price Egypt pays in the international market by more than $100 per tonne
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