Egypt said Wednesday it raised the supply price of wheat it will buy from farmers from mid-April to mid-July to reach an upward of EGP 575 per ardeb (roughly 150 kg) depending on the quality of the crop, state news agency MENA quoted the agriculture ministry as saying.
The new prices of the wheat are divided into three categories: EGP 555 per ardeb for the lowest quality, followed by EGP 565 and EGP 575 for the finer qualities respectively.
This is the second time the country has increased the supply price for wheat in the past five months.
The wheat harvest season starts in mid-April and lasts for three months.
In November 2016, immediately after the country floated its currency and increased the price of subsidised fuel, the cabinet increased the prices of purchasing wheat from farmers from EGP 420 to EGP 450 per ardeb to support local producers.