Egypt to hold price for local wheat steady
Reuters, Sunday 10 Aug 2014


Egyptian Prime Minister Ibrahim Mahlab said on Saturday the government planned to buy local wheat from farmers "at a fair price no lower than last year," in comments broadcast by state television.

The government purchased wheat for 420 Egyptian pounds ($58.74) per ardeb (150 kg) in the most recent harvest season which ended in June.

Egypt pays domestic farmers more than $100 per tonne above the world market price for their wheat to encourage sales to the state.

http://english.ahram.org.eg/News/108137.aspx