April 23, 2013
Egypt increases wheat harvest, cuts back on imports
The world's biggest wheat importer, Egypt is expecting a bumper crop this year, allowing the country to cut back on imports as it deals with an economic crisis that has depleted national reserves of foreign currency.
Egypt's wheat crop will conclude at 10 million tonnes this season, said the country's agriculture minister, Salah Abdel Momen.
Bassem Ouda, the minister of supplies, had forecast a harvest of 9.5 million tonnes. About half of the crop ends up in government flour mills.
The latest USDA report on Egypt forecasts production to increase 2.3% at 8.7 million tonnes in 2013 due to an expanded area under cultivation. However, it said diesel fuel shortages could disrupt the harvest.
Egypt usually imports about 10 million tonnes a year, which might cost over US$3 billion. However, the state announced that it will import about four to five million tonnes in 2013.
Egypt hopes to receive the rest of wheat stocks from local production.
