Egypt secures 5.6-month strategic reserve of subsidized wheat
Updated 9/30/2024 6:15:00 AM
Arab Finance: Egypt has secured a strategic reserve of subsidized wheat sufficient for 5.6 months of local consumption, Minister of Supply and Internal Trade Sherif Farouk announced on September 29th.
The minister added that subsidized sugar reserves are enough to cover 15.2 months, while subsidized cooking oil reserves are sufficient for 7.1 months.
The strategic stock of frozen poultry is projected to last for 9.9 months, and fresh meat reserves will cover 7.6 months.
Farouk made the announcement during a meeting headed by Prime Minister Mostafa Madbouly to review efforts to ensure the availability of basic commodities for Egyptian citizens.
During the meeting, officials probed ways of maintaining a secure strategic reserve of essential goods and providing them at reasonable prices across the country.
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