• Al-Salamouni: Trading wheat on the commodity exchange contributed to reducing the price of a ton of flour extracted by 72%, to 13.5 thousand pounds.
Tariq Hassanein said that the Ministry of Supply is currently receiving wheat from farmers. To enhance the strategic stock of wheat allocated for the production of subsidized bread, through 420 receiving points at the level of the governorates of the Republic, varied between vertical and field silos, hangers, bakers, developed stores and mill silos, with the Ministry providing facilities to farmers to ensure an increase in supply rates, as the Ministry has energies And storage capacities, which include all sites, silos, hangers, and bankers affiliated to the Ministry of Supply and the marketing agencies.
Abdul Ghaffar Al-Salamouni, Vice Chairman of the Board of Directors of the Chamber of Grain Industry in the Federation of Industries, explained that the proactive measures taken by the government, represented by the Ministry of Supply and Internal Trade, contributed to providing all food commodities and securing strategic stocks sufficient for long periods, pointing out that with the continuity of wheat trading and the increase in the quantities offered. On the commodity exchange platform, this will lead to a decrease in prices again, as the Egyptian Commodity Exchange contributed to reducing the prices of flour extracted by 72% during the past days, to 13.5 thousand and 14 thousand pounds per ton instead of 14.5 thousand and 15 thousand pounds per ton, which is positive for the Prices of products such as bread, dough, baked goods and sweets for the benefit of the consumer.
Al-Salamouni added that the Ministry of Supply, represented by the General Authority for Supply Commodities, decided to increase the offering of wheat quantities traded on the commodity exchange from an estimated quantity of 13 thousand tons to 15 thousand tons of wheat in each session, as wheat is traded in two sessions per week, “Sunday and Wednesday”, and it is expected Increasing the quantities of wheat traded on the commodity exchange to 20,000 tons of wheat per session, after the Chamber of Grain Industry submitted a memorandum to the Minister of Supply and Internal Trade, stating that flour prices fell after wheat was traded on the commodity exchange and demanding an increase in the quantities offered of wheat in the stock exchange, which will lead to a decrease Flour prices in the markets again.-
He continued, and the prices of bran oil decreased by 2,000 pounds per ton, pointing out that despite the difficult global conditions as a result of the Russian-Ukrainian war, which led to negative effects on the supply chains of main commodities, especially wheat, corn, fodder and oils, which led to an increase in commodity prices, along with The high price of the dollar against the pound led to a direct impact on food commodities. Nevertheless, the state succeeded over the past period, under the directives of President El-Sisi, in crossing the country to safety in providing all food commodities.-
Abdul Ghaffar Al-Salamouni indicated that the Minister of Supply and Internal Trade directed the directors of the directorates in all governorates to facilitate the procedures for supplying local wheat from farmers, and to pay the suppliers’ dues in a timely manner within a maximum of 48 hours, in addition to following up the leaders in the Ministries of Supply, Agriculture, Finance, and the Supply Investigation “General Administration” daily. local wheat sourcing and on-site blockage removal; To achieve the largest target of wheat supply for the wheat season 2023, with attention to farmers, agricultural associations, merchants and suppliers to solve any problem, which leads to an increase in daily supply rates.
He also confirmed that the storage capacity of wheat inside silos increased to approximately 3.6 million tons, after it did not exceed 1.2 tons before 2014, in addition to the storage capacity of hangers and banks, as the percentage of wheat losses in the past ranged from 10 to 15% due to poor quality of food. Storage in open places, and after the state adopted the national project for silos, contributed to reducing the quantities of wheat that were wasted.
He explained that the Ministry of Supply aims to establish new silos with a storage capacity of 600,000 tons. Bringing the total storage capacity of wheat in silos affiliated with the Ministry to more than 4 million tons, in addition to the presence of silos in the private sector with a storage capacity of close to one million tons as well, which confirms the extent of the interest of the current political leadership in a commodity that is one of the most important strategic commodities, which is the local wheat commodity intended for the production of wheat. Well-fortified bread conforming to standard specifications.