Annual food subsidies bill in Egypt now estimated at US$4.31B, expected to be maintained at that level in fiscal 2014-2015, government official says

Nevin Barich

March 23, 2014 (AmCham Egypt Project News) – Annual food subsidies bill in Egypt is now estimated at $ 4.31 billion and is expected to be maintained also in FY 2014/ 2015. That was announced by (New) Minister of Supply, Mr. Khaled Hanafi, undertaking to fight the existing smuggling Mafia in the country. The Minister estimated the annual smuggling volume involving food at L.E. 7 billion. That was circulated by Reuters indicating that Egypt imports annually about 10 million tons of wheat & purchases further 3.6 to 3.7 million tons of local wheat from farmers. Meanwhile the Minister revealed that the government will accept offers to supply imported rice in forthcoming public tenders. Week earlier the Minister hinted on possible termination of rice export prohibition yet the issue so far seems rejected.

Country : Egypt
Location : Country Wide
Expiry Date : 2014-05-16

Sectors :

Agriculture & Food/Agricultural & Animal Production
Industry/Food & Beverage
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