President wants Egypt to stop importing wheat within four years
Egypt, the world's top wheat importer, wants to stop importing wheat within four years and rely on its growing local production, President Mohamed Mursi said on Wednesday.
"The current rates are excellent and I think by the end of the week we will reach 2 million tonnes, about half of what we are seeking this year," Mursi said during a festival to celebrate the harvest season in a wheat farm near the northern city of Alexandria.
"And, by God's will, in two years we will be achieving more than 80 percent of our needs, and seek in four years not to import wheat," he added.
Egypt, hit by a deep economic and financial crisis after two years of political turmoil, has reduced its purchases of imported wheat, betting on a higher home crop and improved storage to keep providing its 84 million people with cheap, subsidised bread.
Egypt usually imports about 10 million tonnes a year but plans this year to buy only 4-5 million tonnes from abroad and make up the remainder of its needs from increased local production, and cutting back the amount it allocates for storage.
Supplies Minister Bassem Ouda, who hails from Mursi's Muslim Brotherhood group, has said he expects a harvest of 9.5 million tonnes of domestic wheat during this season, which runs from April until early June. About half the harvest ends up in government flour mills, with the rest being sold for feed and other purposes.
Reuters
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