Egypt: Strategic wheat reserve sufficient for 4.6 months: Supply min.

Egypt’s strategic wheat reserve is sufficient for 4.6 months, said Minister of Supply and Internal Trade Ali el Moselhi on Monday, adding that local wheat supplies will start in mid April with a target of 4 million tons.

Speaking on the fringe of his participation at the inaugural of Cairo Food Summit in its first edition, Moselhi noted that cooking oil reserves are enough for 5.1 months.

Commenting on the rise of poultry prices, the minister attributed the issue to the rise of international prices of fodders and a recession in production rates during the winter season by 45 percent.

He added that rice reserves are enough for the Egyptian market consumption, noting that rice mills are being reviewed in order to control prices at markets. He said prices of unpackaged rice is ranging between LE 17 to 18 while packaged rice’s price is ranging between LE 24 to 26.

He also noted that the ministry will cooperate with Poultry Producers Union to provide poultry products at affordable prices to range between LE 65 to 75 per kilogram, adding that importing of 25,000 frozen poultry will be allowed in the coming phase ahead of the holy fasting month of Ramadan with witnesses a rise in consumption rates.