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Egypt buys 1.8 mln tonnes of domestic wheat since mid April: Cabinet

Ahram Online , Wednesday 11 May 2016
A farmer tends to a wheat farm in the El-Dakahlia governorate, north of Cairo, Egypt, February 16, 2
A farmer tends to a wheat farm in the El-Dakahlia governorate, north of Cairo, Egypt, February 16, 2016 (Reuters)
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Egypt's government has purchased 1.8 million tonnes of domestic wheat, almost half its target of 4 million tonnes, for the three-month harvest season starting mid-April, a cabinet statement said on Wednesday.

The government said it would procure local supplies this year at the subsidised price of EGP 410 to EGP 420 per ardeb (150 kg), depending on quality, reversing its decision to replace the crop subsidy with a land subsidy of EGP 1,300 per feddan (roughly one acre) of wheat grown.

The world's largest wheat importer has banned the trading of imported wheat in the domestic market without permission from the supply ministry during this year's harvest season, from April to July.

Last year, the government purchased a record 5.3 million tonnes of domestic wheat, up from 3.7 million tonnes purchased a year prior, at the subsidised price of EGP 420 per tonne.

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