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Egypt secure in wheat stocks

20-Sep-2010

Related topics: Business

Egypt is not facing a bread shortage as it has sufficient wheat stocks put by, the trade minister has assured, reducing the risk of civil unrest.

Rioting occurred in Egypt in 2008 as a result of price hikes of the staple, but Minister of Industry and Trade Rachid Mohamed Rachid has issued a statement saying that there is enough wheat stored up until February 2011 – even though the scale of the export ban from Russia could not have been predicted.

General Authority for Supply Commodities (GASC) has also found alternative sources for the 540,000 tons of wheat Egypt had planned to import from Russia this year. Plans are also underway to increase what production in the country, Almasryalyoum.com reports.