CAIRO: Former Minister of Supply Abu Shady said that the strategic stock of wheat in Egypt is sufficient until June 2.
The former minister said wheat reserves for bread subsidies, which were initially to last through March, should be adequate through May, adding that its indicative pricing was largely consensual to keep profit margins for small businesses and protect consumers from exploitation, reported Youm7.
In January, Abu Shady, who was at the time minister of supply, put forward a new strategy for reserve goods that included reforms in wheat production and storage. Reforms also included increased import, which was to secure reserves for at least through March.
The Ministry’s General Authority for Supply Commodities imports six million tons of wheat annually to cover deficits in domestic quantities allocated to subsidize bread production.
Additional reporting by Hossam Mostafa.