Egyptian Prime Minister Mostafa Madbouly meets with Minister of Supply Ali Moselhi. Cabinet
Moselhi made the remarks in a meeting with Prime Minister Mostafa Madbouly to discuss the situation regarding the country’s reserves of basic commodities, a statement by the Cabinet read.
Egypt has strategic reserves of wheat and sugar enough for five months and 4.5 months respectively, Moselhi said. The new supply season of sugar cane and beets will start in January-February 2023, he noted.
The country’s reserves of cooking oil and frozen poultry are enough for 4.8 months, the minister said, while reserves of live meat are enough for 12.6 months.
The country also has reserves of pasta and rice enough for 5.8 and 5.5 months respectively, according to the minister.
Moselhi said the state launches periodic inspection campaigns on all markets to prevent monopolistic practices concerning rice.
Egypt, which has achieved self-sufficiency in rice in recent years, produces around 5 million tonnes of rice annually. However, the country extended a ban on rice exports for six months starting October to ensure availability of rice for citizens all year round.
The Egyptian government has been working to continue securing reserves of food commodities that are enough for at least six months as well as social safety net packages amid the global food crisis resulting from the Russia-Ukraine crisis.
Late in October, President Abdel-Fattah El-Sisi ordered maintaining the strategic reserves of basic commodities and monitoring their market prices to ensure the stability of the country’s food security status.