The Ministry of Finance has released public budget projections for the price of wheat per ton.

In the fiscal year (FY) 2020/21, the price of wheat per ton stood at $193.9, followed by a notable increase to $345 in FY 2021/22.

In the subsequent fiscal year 2022/23, the price continued its upward trend, reaching $424 per ton.

However, for the current fiscal year 2023/24, the projected price shows a decrease to $340 per ton.

Looking ahead to the fiscal year 2024/25, the projection suggests a further decline in wheat prices, with an anticipated price of $280 per ton.

Egypt’s strategic wheat reserves are sufficient for three months, as per Minister of Supply and Internal Trade Ali Moselhy.

The Egyptian government raised the wheat procurement price for the 2024/2025 harvest season to EGP 2,000 per ardeb.