Egypt plans to lift wheat procurement price for next season
Egypt's prime minister Mostafa Madbouly said the government aims to raise the wheat buying price per ardeb to 2,650 pounds from 2,500, Reuters reported.
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what happened
Prime Minister Mostafa Madbouly said on Saturday that the government wants to increase the price paid to farmers for an ardeb of wheat next season, to 2,650 Egyptian pounds ($48) from 2,500 pounds. At the time, the exchange rate stood at 55.25 Egyptian pounds to the dollar.
The move is meant to motivate farmers to plant more wheat and other strategic crops. Reuters is the original source of this information.
why it matters
The procurement price sets a benchmark for growers and directly shapes how much grain the state can secure domestically. For wheat markets, it signals Egypt's focus on boosting its own output, which could eventually affect the country's need for imported grain.
market impact
Wheat: higher domestic state purchases in Egypt may shift the supply and demand balance in global grain markets
tags
instruments
sources
- Egypt aims to raise wheat procurement price next season, PM says — Reuters, 24 October 2026 at 14:56 UTC
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