Egypt Allocates EGP 69.1 Billion to Secure Local Wheat Procurement for 2026/2027 Season
Egypt’s Minister of Finance, Ahmed Kouchouk, announced today the allocation of EGP 69.1 billion to fund the procurement of local wheat from farmers. This fiscal move follows the government's decision to raise the procurement price to EGP 2,500 per ardeb for the current season. The initiative is a cornerstone of Egypt's strategy to bolster national food security and mitigate the impact of global supply chain disruptions on the domestic market.
Minister Kouchouk emphasized that the Ministry’s primary goal is to maximize local supply to significantly reduce the national wheat import bill starting next year. By providing competitive pricing and immediate funding, the government aims to incentivize Egyptian farmers to increase their cultivated areas, thereby preserving foreign currency reserves and stabilizing the cost of bread—a vital staple for the nation’s citizens.