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The Egyptian government is striving to enhance self-sufficiency in wheat and corn crops, with the aim of increasing the percentage from 45% in 2021 to 53% for wheat and 56% for corn by 2025/2026. This goal is outlined in the economic development plan document for the current fiscal year 2023/2024, as presented by the Minister of Planning, Hala Al-Saeed. Egypt has planted 3 million feddan worth of wheat since November 2023, in a year-on-year increase of almost half a million acres, according to a Cabinet statement released in January 2024. In addition to that, Egypt’s wheat imports increased by over 14.5% to 11 million tons in 2023 from 9.6 million tons in 2022, according to statements made by Assistant Supply Minister Ibrahim Ashmawy to Ashraq Bloomberg. In November, The Egyptian Cabinet approved the decision to raise the local wheat procurement price to LE 1,600 from LE 1,500. The price is per wheat ardeb which accounts for almost 150 kilograms. The statement said that raising the price “is to encourage Egyptian farmers and motivate them to grow and supply this strategic crop in the upcoming harvest season.” Egypt also signed a $500 million agreement to purchase wheat from Al-Dahra, a global agribusiness leader based in Abu Dhabi, in partnership with Abu Dhabi Exports Office (ADEX), to supply Egypt with wheat in a 5-year deal in which Egypt will import milling wheat worth $100 million per year.
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