Egypt may ban wheat imports during local season to stop fraud, Agriculture Ministry says
The government is considering halting imports during the local harvest season, as long as stockpiles are not affected, Ministry of Agriculture said in a statement. Officials are also looking into ways “to track down imported wheat and place it in specific places” to prevent it from being mixed with local supplies, the statement reads. Egypt annually fixes a price for local supplies above global rates to encourage farmers to grow the crop. Under the current system, some suppliers have reportedly brought in foreign wheat and labelled it as local grain, so it could be sold to the state at a higher price, and others were said to have inflated inventories in order to gain bigger payments. (Bloomberg)
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