Al-Rajhi Holding discusses farm projects in Egypt
Wheat, on a farm, in Qalubiyah, North Cairo, Egypt - AP/Hassan Ammar
By THE CAIRO POST

CAIRO: A delegation of the Saudi Al-Rajhi Holding Group met with Minister of Agriculture Adel el-Beltagy Thursday to discuss different projects in Toshka, seed production and wheat silos, Youm7 reported Friday.

Rajhi plans to establish six silos to store wheat with a total capacity of 30,000 tons, Mubasher reported Tuesday.

The Egyptian Cabinet announced that the company received 25,000 acres in Toshka in Egypt’s southern Sahara Desert. The company has planted 17,000 acres of the area with wheat and rice.

Egypt is the world’s largest wheat importer according to U.N. data, with an estimated cereal import requirement of 18.2 million tons in fiscal year 2014-15.

On July 12, Minister of Supply and Internal Trade Khaled Hanafy said that Egypt’s strategic stocks of wheat are sufficient to last for six months. He added that the government signed agreements with several countries to import wheat in order to meet the local demand, Youm7 reported.

Egypt agreed to buy 120,000 tons of Russian wheat and 120,000 tons of Romanian wheat at a cost of $262.81 per ton, including shipping expenses, Al-Mal newspaper reported On July 3.

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