Egypt supply minister expects wheat prices to stabilize

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Egypt’s supply minister said on Sunday that export quotas such as the one implemented by Russia drive wheat prices higher but he expects prices to stabilize.

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The last three months have seen high prices caused by uncertainty and not the usual factors such as climate change or problems with harvests, Ali Moselhy told Reuters.

Mosely said he expects prices to stabilize in the coming period amid the distribution of the coronavirus vaccine and an improvement in global health conditions, as reserves are high and production has not been affected.

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